USA - FCA US LLC continues to invest in upgrading plant, and moving cars to more appropriate locations.

•   Investments in assembly plants total more than $1 billion
•   1,000 new jobs to be created
•   Plants will be retooled to support growth of Jeep_® brand
•   Brings total U.S. investment to more than $6.8 billion with more than 23,500 jobs created since June 2009 

FCA US LLC today announced that it will invest more than $1 billion in its assembly plants in Illinois and Ohio to retool them to support the future growth of the Jeep_® brand. As a result of these investments, 1,000 new jobs will be created, subject to market conditions.

The Belvidere Assembly Plant (Ill.) will receive an investment of $350 million to produce the Jeep Cherokee, which will move from its current production location in Toledo, Ohio, in 2017. Approximately 300 new jobs will be created. Production of the Dodge Dart and the Jeep Compass/Jeep Patriot will end in September 2016 and December 2016, respectively.

The Company will also invest $700 million in the Toledo Assembly Complex (Ohio) to retool the North plant to produce the next generation Jeep Wrangler. Approximately 700 new jobs will be added. An announcement regarding the future of the South plant will be made at a later date.

These production actions are subject to the formal approval of incentives by state and local entities.

Since 2009, FCA US has announced investments of more than $6.8 billion and added more than 23,500 (including nearly 18,000 hourly) people in its U.S. operations.

Volvo takes control of joint ventures in China to become sole owners along with Parent, Geely Holdings.

Volvo Cars has taken control of its three joint venture operations in China for SEK2.2bn in order to more accurately reflect its growing presence in the world’s largest car market.

Volvo Cars now owns 50 per cent of its China joint ventures alongside Geely Holdings. These joint ventures include its car manufacturing facilities in Chengdu and Daqing, its engine manufacturing facility in Zhangjiakou and its research and development centre in Shanghai.

The move allows Volvo to fully consolidate its China joint ventures, providing a more accurate financial and operational picture of the company as it continues to expand in China. The company’s interim financial results announced today are the first to incorporate the China joint ventures.

“The incorporation of the Chinese entities is an important step towards the long term objectives to capture the growth and sourcing potential in China,” said Håkan Samuelsson, President and Chief Executive.

Volvo Cars has taken control of its three joint venture operations in China for SEK2.2bn in order to more accurately reflect its growing presence in the world’s largest car market.

Volvo Cars now owns 50 per cent of its China joint ventures alongside Geely Holdings. 

These joint ventures include its car manufacturing facilities in Chengdu and Daqing, its engine manufacturing facility in Zhangjiakou and its research and development centre in Shanghai.

The move allows Volvo to fully consolidate its China joint ventures, providing a more accurate financial and operational picture of the company as it continues to expand in China. The company’s interim financial results announced today are the first to incorporate the China joint ventures.

“The incorporation of the Chinese entities is an important step towards the long term objectives to capture the growth and sourcing potential in China,” said Håkan Samuelsson, President and Chief Executive.