FCA Invests More Than $1 Billion in Jeep Brand to Retool Illinois and Ohio Facilities
Fiat Chrysler Automobiles announced late yesterday that they would be investing more than $1 billion to retool and revamp their Belvidere Assembly Plant in Illinois, and their Toledo Assembly Complex in Ohio.
The Belvidere Assembly Plant will receive $350 million, in addition to taking over production of the Jeep Cherokee in 2017. The plant will discontinue production of the Dodge Dart, and the Jeep Compass and Patriot by the end of 2016.
The remaining $700 million will go to the Toledo Assembly Complex to gear up for production of the next generation Jeep Wrangler, and other future products yet to be announced.
FCA estimates around 1,000 new jobs will be added.