EVs take a backseat in Stellantis’ $13B US investment plan
Stellantis, the international automaker that owns Chrysler, Jeep, and Ram, said it will invest $13 billion to beef up its U.S. manufacturing over the next four years as part of a broader revival plan directed by its new CEO. Five new vehicles will be developed and produced through 2029 as part of the investment into factories in Illinois, Ohio, Michigan, and Indiana. The investment will also 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. In all, more than 5,000 jobs will be created. Unlike previous multibillion-dollar investment pledges, however, this one doesn’t focus on electrification. One of the five new…
