The Italian-owned FCA's announcement comes one day after Japanese-owned Toyota and Mazda said it will build an assembly plant in Alabama that will create approximately 4,000 jobs in the Huntsville area.
The company said that the actions were possible partially because of the passage of tax reform. He says employees should also share in the tax savings. FCA's Saltillo Truck Assembly Plant, where the Ram Heavy Duty is now made, will be re-purposed to make commercial vehicles for global distribution, according to a company statement.
The move comes following a recent tax code overhaul across the United States, with Fiat Chrysler viewing the move as a way of protecting its profits should President Donald Trump pull the USA from the North American Free Trade Agreement (NAFTA) completely. During his campaign and shortly after winning the election, the president routinely singled out Ford Motor Co. and other companies in the global auto industry for maintaining or moving production to plants in Mexico. "Thank you Chrysler, a very wise decision".
The payment, which recognizes employees for their continued commitment to the company's success, will be made in the second quarter of this year, and will be in addition to any profit sharing and salaried performance bonuses that employees would otherwise be eligible to receive in 2018.
Fiat Chrysler is the latest company to make changes because of the new tax law.
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FCA's announcement gave the automaker an early leg up on attention from the Detroit auto show. At that time, officials noted that the Warren investment would make it easier to move Ram production to MI in the future if necessary but said no such decision had been made. That investment is also expected to be completed by 2020.
"This is unbelievable", Hackel said.
Since June 2009, the company has invested over $10bn in its USA manufacturing operations, adding thousands of jobs to the economy in the process. More than 300 new jobs were added to support production.
The company will invest more than $1 billion to modernize the Warren Truck Assembly Plant.