
Stellantis Chairman Discusses US Investments for Jeep, Ram and Trump

Stellantis Chairman John Elkann speaks during the presentation of the new Fiat Panda as Fiat celebrates its brand's 125th anniversary on July 11, 2024 in Turin, Italy.
Massimo Pinca | Reuters
DETROIT – Stellar Chairman John Elkann outlined several of the transatlantic automaker's upcoming plans for U.S. investment in a meeting with President Donald Trump during a day-long trip to Washington DC ahead of Trump's inauguration on Monday.
The plans, outlined in an internal memo to U.S. employees on Wednesday, included creating 1,500 jobs and reopening a plant in Illinois to build a new midsize pickup truck in 2027; Instead, a new version of the Dodge Durango SUV that was being considered for Mexico was built at a factory in Detroit. and increased support for plants in Toledo, Ohio, and Kokomo, Indiana.
“John told the President that building on our proud, more than 100-year history in the U.S., we plan to continue that legacy by further strengthening our manufacturing presence in the U.S. and providing stability for our great American workforce,” Antonio said Filosa, head of Stellantis' North American operations, said the message.
Some of the announcements, such as the construction of the midsize pickup truck in Illinois, were previously expected under a contract with the United Auto Workers union. However, they had been called into question due to strategic decisions made by former Stellantis CEO Carlos Tavares.
UAW President Shawn Fain, who pushed for Tavares' firing, welcomed the announced plans. The union had previously filed grievances and held anti-Stellantis rallies over job cuts and possible changes to the company's production schedules.
“This victory is a testament to the power of workers sticking together and holding a billion-dollar corporation accountable. We have shown that we will do whatever it takes to protect the good union jobs that are the lifeblood of places like Belvidere, Detroit, Kokomo and beyond,” Fain said in a statement Wednesday.
The New York Stock Exchange welcomes the Jeep brand (NYSE: STLA) to the podium on May 31, 2024. To mark the occasion, Antonio Filosa, Chief Executive Officer, along with Lynn Martin, President of NYSE Group, will ring the Opening Bell®.
NYSE
Elkann, scion of Italy's Agnelli family that founded Fiat, is leading the automaker in search of a new CEO after Tavares abruptly left in December amid declining profits, declining market share and disagreements with the company's board.
Plans for Stellantis' Jeep complex in Ohio include “additional technologies and strong product moves for Jeep Wrangler and Jeep Gladiator” as well as “more critical components” for supporting facilities.
According to the memo, the investments for Indiana also include the production of a new four-cylinder engine.
“Our plans, focused on increasing market share and growing sales volume, include a multi-billion dollar investment in our people, great products and innovative technology, all here in the U.S.,” Filosa said.
Reuters reported on Tuesday that Elkann met with Trump and several senior administration officials ahead of Trump's inauguration, which Elkann was invited to but did not attend.
Elkann, who is also chairman of Ferrariflew back to Italy before the inauguration to meet seven-time world champion Lewis Hamilton as Ferrari's new Formula One driver, Reuters reported.
Elkann is at least the second leader of one of Detroit's “Big Three” automakers to meet or speak with Trump. Ford engine Chairman Bill Ford said earlier this month that he had a lengthy phone conversation with then-president-elect.
“We had a long, long conversation,” Ford said Jan. 9 during an event for the Detroit Auto Show. “He called me out of the blue and we had a great conversation. And he understands the importance of our industry and Ford in the industry. He wants to be helpful. I think once he gets his staff together, we'll probably be able to do it.” to go a little deeper.
General Motors did not immediately respond to whether CEO and Chairwoman Mary Barra recently met or spoke with Trump.