(This story has been updated.)
Fiat Chrysler Automobiles plans for a sweeping overhaul of its North American operations took another step forward with the announcement that the company will invest more than $1 billion to retool assembly plants in Illinois and Ohio.
The retooling investment supports the future growth of the Jeep brand and creates 1,000 new jobs, the company said in its announcement, which also underscores the urgency behind FCA CEO Sergio Marchionne’s plans to build more Jeeps.
At the same time, FCA U.S. is pushing ahead with a broad strategy to expand the company’s line of trucks and utility vehicles while relegating passenger car production to a secondary position. (more…)