Ford rival Stellantis has gone through quite the rough patch in recent years, making a largely failed attempt to cancel certain models, transitioning away from the V8 engines its consumers loved and toward all-electric power. Those failed decisions - along with financial repercussions stemming from tariffs imposed on imported autos and parts - has had a massively negative impact on the automaker's bottom line, prompting it to make a flurry of announcements as of late amid a major pivot.
Now, Stellantis is set to invest big in the U.S. in an effort to turn things around, according to Bloomberg. It's looking to invest a whopping $10 billion in that specific market, one that's pivotal to its profits. Those investments will begin with a $5 billion dollar infusion on top of the same amount of money that's reportedly already been allocated for such purposes this year. As for where that money is slated to go, sources say that Stellantis will look to funnel most of into assembly plants and new models.
While talks are still ongoing, it's believed that Stellantis will look to give the Jeep brand a boost, and it's also considering new investments into Dodge and Chrysler, too. No final decisions have been made as of yet, meaning that the investment allocation and potential projects it supports could change before everything is finalized, however. “As part of the preparations for the company’s strategy update and capital markets day next year, the CEO is leading a thorough evaluation of all future investments. This process is ongoing,” a Stellantis spokesperson said.
In the meantime, we've seen a number of major announcements come from Stellantis in just a few short months. The automaker rolled out a new 10-year, 100,000-mile powertrain warranty for its truck-focused Ram brand, revived its SRT high-performance division, and canceled a planned all-electric version of the Ram 1500, to name just a few.
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