Automaker Stellantis announced an investment of $13 billion as it seeks to expand its manufacturing footprint in the U.S. The company said the $13 billion spend, the largest in its 100-year history, would result in U.S. production jumping by 50% with five new vehicle launches and 5,000 new jobs over the next four years.
Five new vehicles will be developed and produced through 2029 as part of the investment into factories in Illinois, Ohio, Michigan, and Indiana. This investment will support the production of a new four-cylinder engine and reopen the Belvidere Assembly Plant in Illinois, which will allow the automaker to expand production of the Jeep Cherokee and Jeep Compass for the U.S. market. This would also create around 5,000 jobs across the country.
Unlike previous multi-billion-dollar investments, this one does not focus on electrification. One of the five new vehicles will be a range-extended EV produced at the Warren Truck Assembly Plant in Michigan beginning in 2028.
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The remaining products include a next-generation Dodge Durango that will be produced at the Detroit Assembly Complex in 2029, a new midsize truck that will be assembled at its Toledo Assembly Complex in Ohio, and an all-new four-cylinder engine called the GMET4 EVO that will go into production beginning in 2026 at its factory in Kokomo, Indiana.
Antonio Filosa, the CEO and North America COO of Stellantis, said the investment will drive the automaker’s growth, strengthen its manufacturing footprint and “bring more American jobs to the states we call home.”
“Accelerating growth in the U.S. has been a top priority since my first day. Success in America is not just good for Stellantis in the U.S. — it makes us stronger everywhere,” he said in a statement.
This investment comes after tariffs made imports from regions like Mexico, Canada, and Europe, where Stellantis operates some facilities, too costly. President Donald Trump has said he wants more auto manufacturing in the U.S.
Stellantis stock climbed higher, jumping over 5% in after-hours trading on the heels of the news. Shares are trading around 1% higher in midday trade on Wednesday.
This investment came after the departure of former CEO Carlos Tavares last year with Stellantis’ U.S. businesses faltering due to bloated inventory and higher prices. GM had made a similar move earlier this year, committing $4 billion to expand its U.S. manufacturing capabilities.