Fiat Deepens SUV Bet With $4.5 Billion for Jeep, Ram Plants
- Carmaker says factory projects will create almost 6,500 jobs
- Company keeps expanding even as supply of iconic SUV builds up
The 2019 Ram Power Wagon pickup truck
Photographer: Sean Proctor/BloombergFiat Chrysler Automobiles NV plans to invest $4.5 billion to produce new Jeep models and boost Ram truck output, as it banks on selling more high-margin sport utility vehicles even as U.S. sales lose steam and a slew of rival offerings hit the market.
The Italian-American automaker is putting $1.6 billion into its Mack Avenue engine plant in Detroit to produce the next-generation Grand Cherokee, plus a new full-size three-row Jeep with an optional plug-in hybrid engine, Chief Executive Officer Mike Manley said on a call with reporters. It’s also spending $1.5 billion on its Warren, Michigan, truck plant to bring back the Jeep Wagoneer and Grand Wagoneer nameplates, and continue production of its Ram 1500 Classic truck through this year.