French-Italian-American carmaker Stellantis is planning to invest about $10bn (R172,580,006,000) in the US, Bloomberg News reported on Saturday, citing people familiar with the situation.
Stellantis may announce in the coming weeks about $5bn (R86,300,500,000) in fresh investment on top of a similar amount earmarked earlier in the year, the report said.
The report said the investments over several years could be funneled into plants, including reopenings, hiring, and new vehicle models, in states such as Illinois and Michigan.
In July, Stellantis had warned of a £1.5bn (R30,388,865,232) hit from US tariffs this year, but pledged new vehicle launches to reconnect with customers as new CEO Antonio Filosa tries to get the carmaker back on track after a dismal 2024. Filosa became CEO in June.
Stellantis is reintroducing models, including the Jeep Cherokee and eight-cylinder RAM trucks, after dropping them proved to be one of the causes of the group’s declining sales since 2024, Filosa said in September.
The carmaker is focused on reclaiming the past success of the Jeep brand and is considering fresh investments in Dodge, which could result in a new Dodge V8 muscle car, and possibly even the Chrysler brand in the long term, the Bloomberg report added.
“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. The process is ongoing,” a Stellantis spokesperson said in a statement to Reuters. The spokesperson did not elaborate.
US senator Bernie Moreno, an Ohio Republican, and auto officials told Reuters on Friday that US President Donald Trump is considering significant tariff relief for US car production that could effectively eliminate much of the costs faced by major car companies.