The transformation plan, to be led by CEO Antonio Filosa, aims to increase the company’s local production capacity by 50%.
According to the company's statement, the investments will cover new vehicle production at factories located in the states of Michigan, Illinois, Indiana, and Ohio, and will provide employment for more than 5,000 people. This move is seen as part of Stellantis’ strategy to modernize its U.S. manufacturing network.
Stellantis' shares, which are traded on the U.S. stock exchange, increased by more than 5% in after hours trading on Tuesday following the announcement of the investment plan. However, they remained flat in pre market trading on Wednesday. Still, the company’s shares have decreased by 24% since the beginning of the year.
The investment announcement came after U.S. President Donald Trump implemented new tariff policies targeting the automotive industry as part of his goal to revitalize the manufacturing sector. Company officials stated that the scope of the production plans presented by Stellantis Chairman John Elkann to Trump in January has been expanded with this investment.
This major investment is seen as a strategic step for Stellantis, both to strengthen its presence in the U.S. market and to reshape its production capacity amid global competition.
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