Stellantis Chairman John Elkann speaks throughout the presentation of the brand new Fiat Panda as Fiat celebrates the one hundred and twenty fifth anniversary of its model in Turin, Italy, July 11, 2024.
Massimo Pinca | Reuters
DETROIT — Stellantis Chairman John Elkann detailed a number of upcoming plans the trans-Atlantic automaker has for U.S. investments when assembly with President Donald Trump throughout a dayslong journey to Washington, D.C., earlier than Trump’s Monday inauguration.
The plans, as outlined in an inner message Wednesday to U.S. workers, included creating 1,500 jobs and reopening a plant in Illinois to construct a brand new midsize pickup truck in 2027; constructing a brand new model of the Dodge Durango SUV that was being thought of for Mexico at a Detroit plant as a substitute; and including extra assist for vegetation in Toledo, Ohio, and Kokomo, Indiana.
“John informed the President that constructing on our proud, greater than 100-year historical past within the U.S., we plan to proceed that legacy by additional strengthening our U.S. manufacturing footprint and offering stability for our nice American workforce,” Antonio Filosa, head of Stellantis’ North American operations, stated within the message.
Leaders from every of the “Huge Three” automakers in Detroit have now individually spoken or met with Trump. Additionally they had been among the many firms to every donate $1 million to Trump’s inauguration.
Normal Motors on Wednesday confirmed CEO Mary Barra additionally spoke with Trump previous to the inauguration concerning the U.S. automotive business and economic system. The corporate characterised it as an ideal, “pleasant and productive” dialog.
Flanked by Blackstone CEO Stephen Schwarzman (L) and Normal Motors CEO Mary Barra (R), U.S. President Donald Trump holds a method and coverage discussion board with chief executives of main U.S. firms on the White Home in Washington February 3, 2017.
Kevin Lamarque | Reuters
Ford Motor Chair Invoice Ford earlier this month stated he had a prolonged cellphone name with the then-president-elect.
“We had a protracted, lengthy, dialog,” Ford stated Jan. 9 throughout an occasion for the Detroit Auto Present. “He known as me out of the blue and we had a terrific dialog. And he understands the significance of our business and Ford within the business. He needs to be useful. I believe as soon as he will get his employees collectively, we’ll most likely be capable of go a little bit bit deeper.”
A number of the Stellantis’ bulletins, equivalent to constructing the midsize pickup truck in Illinois, had been beforehand anticipated below a contract with the United Auto Employees union. Nevertheless, they’d come into query below strategic choices made by former Stellantis CEO Carlos Tavares.
UAW President Shawn Fain, who had been campaigning for Tavares’ firing, hailed the introduced plans. The union had beforehand filed grievances and held anti-Stellantis rallies over job cuts and potential adjustments to the corporate’s manufacturing plans.
“This victory is a testomony to the facility of staff standing collectively and holding a billion-dollar company accountable. We have proven that we’ll do what it takes to guard the nice union jobs which might be the lifeblood of locations like Belvidere, Detroit, Kokomo, and past,” Fain stated in an announcement Wednesday.
The New York Inventory Trade welcomes The Jeep Model (NYSE: STLA) to the rostrum, on Might 31, 2024. To honor the event, Antonio Filosa, Chief Government Officer, joined by Lynn Martin, President, NYSE Group rings The Opening Bell®.
NYSE
Elkann, scion of Italy’s Agnelli household who based Fiat, is overseeing the automaker amid a seek for a brand new CEO following Tavares’ abrupt December departure amid declining income, slumping market share and disagreements with the corporate’s board.
Plans for Stellantis’ Jeep complicated in Ohio embody “extra applied sciences and powerful product actions for Jeep Wrangler and Jeep Gladiator” and “extra parts crucial” to supporting services.
Stellantis’ investments for Indiana embody manufacturing of a brand new four-cylinder engine, based on the memo.
“Our plans, centered on growing market share and rising gross sales quantity, entail a multibillion-dollar funding in our individuals, nice merchandise, and progressive know-how, all right here within the U.S.,” Filosa stated.
Reuters on Tuesday reported Elkann met with Trump and a number of other high administration officers earlier than Trump’s inauguration, which Elkann was invited to however didn’t attend.
Elkann, who additionally serves as chairman of Ferrari, flew again to Italy previous to the inauguration to satisfy seven-time world champion Lewis Hamilton as the brand new Ferrari Formulation One driver, Reuters reported.
