AUBURN HILLS – Stellantis is planning to invest roughly $10 billion into the United States as part of a turnaround effort to regain traction in one of its key markets, sources familiar with the matter told Bloomberg.
The automaker is planning to add an additional $5 billion investment on top of an earlier $5 billion pledge, made earlier this year, with much of the investment directed toward strengthening its U.S. manufacturing network, including reopening the Belvidere, Illinois, plant. Discussions are ongoing, and no final decisions have been made.
Most of the investment is expected to concentrate on Jeep and Dodge, which are two of Stellantis’ most popular brands in the U.S. The company has indicated a heightened commitment to revitalizing the Jeep brand and is exploring additional opportunities for Dodge. This could lead to the introduction of new vehicles aimed at further strengthening its market position in the U.S.
The move reflects new CEO Antonio Filosa’s mission to reverse the automaker’s lagging performance following missteps under former CEO Carlos Tavares, which contributed to significant market share losses in both the U.S. and Europe. Part of the investment is intended to fund new model launches as Filosa works to restore the company’s profits and reconnect with its customers.
Filosa’s strategy appears to be yielding results. In the third quarter, the company delivered 324,825 vehicles in the U.S., marking a 6% year-over-year increase.
