FCA will invest in the US, Trump twits "Thank you"

Posted in News

Fiat Chrysler Automobiles (FCA) will invest one billion dollars in the United States within the next 4 years, creating 2,000 new jobs. Sergio Marchionne, the CEO of the Italian-American car’s company explained his plans just before the opening ceremony of the Auto Show in Detroit, just a few days after the twits of Donald Trump, criticizing General Motors and Toyota and threating “big border tax” if they will produce in Mexico.

This time the Tycoon’s reaction was hugely different: "It's finally happening - Fiat Chrysler just announced plans to invest $ 1billion in Michigan and Ohio plants, adding 2000 jobs" twitted Trump, saying “Thank You” to FCA and Ford for their investment in the US in a second twit.

On the Italian stock exchange FCA shares closed up by 0.14 cent at 10.04 euro (+1.41%), confirming a strong positive trend which pushed the prices up by more than 80% within the last 3 months from 6 to 10 euro in just 12 weeks.

Meanwhile, Marchionne has confirmed all of the group's objectives for 2018, hoping that the company could pay dividend already this year, words that have rekindled the interest of investors. On the assumption of a maxi agreement with another major car manufacturer AD was vague: "I do not exclude anything." Apparently Trump could promote the marriage between two giants of the US, but another hypothesis could be General Motors and FCA.  Returning to the announcement of the new maxi investment, Marchionne explained that it will be to renew the plant in Warren, Michigan, and Toledo, Ohio, initially producing the Jeep Grand Wagoneer and Wagoneer and will be adapted to the manufacture of the Ram pickup, currently allocated to Mexico". “The conversion of our industrial footprint completes this stage of our transformation as we respond to the shift in consumer tastes to trucks and SUVs, and as we continue to reinforce the US as a global manufacturing hub for those vehicles at the heart of the SUV and truck market,” Sergio Marchionne explained