The Opel-Parent company Stellantis has a record investment of $13 billion in the USA announced. The money will be used to bring five new models onto the market over the next four years and create 5,000 jobs at factories in the Midwest, the company announced on Tuesday. Stellantis shares listed in the US rose around 2 percent in after-hours trading.
With the investment, the group wants to regain momentum in one of its most important markets. According to CEO Antonio Filosa (52), this is the largest investment in the company’s history. “Accelerating growth in the U.S. has been a top priority since my first day,” Filosa said. “Success in America isn’t just good for Stellantis in the US – it makes us stronger everywhere.”
The French-Italian-American car manufacturer brings together numerous car brands on both sides of the Atlantic. In addition to Opel, these also include Alfa Romeo, Citroën, Dodge, Jeep, Lancia, Maserati and Peugeot. In North America, Stellantis is represented by the US brands Chrysler, Dodge, Ram and Jeep. Sales there increased by 35 percent to 403,000 vehicles in the last third quarter. This is due, among other things, to the introduction of the new Ram 1500 pick-up, a colossus with an eight-cylinder internal combustion engine, as it was said.
The investments will, among other things, be used to reopen a plant in Belvidere, Illinois, that was closed in 2023. According to Stellantis, it will invest $600 million for this. Production of the Jeep Cherokee and Jeep Compass car models is scheduled to begin in 2027. In addition, further car models are to be manufactured in Stellantis factories in the US states of Ohio, Michigan and Indiana, including many combustion engine models.
The group, whose shares are traded in Milan, Paris and New York, planned to do so in July Burdens from US tariffs of 1.5 billion euros for the current year.
Filosa leads the group since June and wants to get it back on track in 2024 after a weak year. This includes the reintroduction of models such as the Jeep Cherokee. The cessation of production is considered one of the reasons for the falling sales figures.