Business
Jeep parent Stellantis announces $13 billion U.S. investment plan
A new Jeep Wrangler 4-Door Sahara 4×4 vehicle displayed for sale at a Stellantis NV dealership in Miami, Florida, US, on Saturday, April 5, 2025.
Eva Marie Uzcategui | Bloomberg | Getty Images
DETROIT — Stellantis, the parent company of Chrysler, Jeep and other auto brands, plans to invest $13 billion in U.S. manufacturing operations over the next four years, as the company executes a domestic turnaround under CEO Antonio Filosa.
The trans-Atlantic automaker on Tuesday said the investments will add more than 5,000 jobs to its domestic workforce and increase domestic production by 50%. The plans include bringing new vehicles to plants in Michigan, Illinois, Indiana and Ohio through 2029.
U.S.-listed shares of Stellantis rose more than 5% in after-hours trading Tuesday. The company’s stock is off 24% this year.
The announcement comes amid President Donald Trump‘s efforts to create more manufacturing jobs in the U.S. through the use of aggressive tariffs, especially for the automotive industry. The company said the plans expand those Stellantis Chair John Elkann detailed to Trump in January.
“Since day one, me and the team set out a clear priority that was to grow in the largest market that we operate, which is the U.S.,” Filosa, who led the company’s North American operations before starting as CEO on June 23, told CNBC on Tuesday. “We know what we need to do to grow this market.”
Incoming Stellantis CEO Antonio Filosa, head of the company’s Americas operations, greets a Windsor Assembly Plant employee during an event celebrating Chrysler’s 100th anniversary on June 6, 2025.
Stellantis
The company’s U.S. sales peaked in 2018, when it was known as Fiat Chrysler, at more than 2.2 million vehicles. Sales last year were down 42% since then as the company and its former CEO Carlos Tavares, who was ousted late last year, focused on profits over volumes.
Stellantis’ new vehicles under the investments include a midsize truck for a plant in Toledo, Ohio; two new Jeep vehicles for a shuttered facility in Belvidere, Illinois; and a next-generation version of the Dodge Durango SUV and “an all-new range-extended EV and internal combustion engine large SUV” at plants in Michigan.
Other investments include research and development and supplier costs to execute the company’s new product strategy, as well as additional investments in the company’s U.S. powertrain hub in Kokomo, Indiana.
Filosa said the investment decisions were a result of discussions with the company’s new leadership team as well as stakeholders such as the company’s franchised dealer network. He downplayed tariffs as a main driver for the decisions, saying automakers need to make long-term plans.
It’s not immediately clear how many of the investments and jobs are new or how many have been previously announced as part of the company’s 2023 contract with the United Auto Workers union that included $18.9 billion in new investments by April 2028.
But there are some differences. For example, a midsize truck was previously planned for Stellantis’ Belvidere Assembly plant in Illinois through a $1.5 billion investment. That vehicle, or a different midsize truck, is now expected to be added to the company’s plant in Toledo through a $400 million investment.
The investments cover most of the company’s main U.S. manufacturing plants. Stellantis’ U.S. footprint includes 34 manufacturing facilities, parts distribution centers and research and development locations across 14 states. The operations employ more than 48,000 people, according to the company.
Business
Brewdog closes all bars for a day as it looks to complete sale
The company brought in consultants AlixPartners last month, after failing to make a profit in recent years.
Source link
Business
Defence stocks surge on Middle East tensions! HAL, BEL, Paras Defence rise up to 13% even as stock market crashes – The Times of India
Defence stocks today: Contrary to the crash in Nifty50 and BSE Sensex, defence stocks on Monday moved up in trade as rising Middle East tensions brought focus back on them. Shares of defence companies such as Hindustan Aeronautics, Bharat Dynamics, BEL and Paras Defence surged by as much as 13.5% as tensions in the Middle East intensified following the death of Iran’s supreme leader, Ayatollah Ali Khamenei. The escalation has raised expectations of increased export opportunities and strengthened investor sentiment toward the sector. Paras Defence led the gains, climbing 13.5%. Meanwhile, HAL, BEL and Bharat Dynamics advanced by up to 3.5% on the BSE.During his recent visit to Israel, Prime Minister Narendra Modi said that the two countries would move ahead with joint development, production and technology transfer in the defence sector.A joint statement issued after the visit noted that India and Israel would collaborate on the co-development and manufacturing of defence equipment to deepen strategic ties. The two sides also agreed to work toward concluding a bilateral trade agreement soon, broaden cooperation under the UPI digital payments framework, and partner on space projects and emerging technologies, among other areas.Brokerage house JM Financial said Indian defence companies such as Hindustan Aeronautics Limited and Bharat Electronics Limited may receive sentiment support despite continued volatility in domestic equities amid a broader global risk-off environment, according to an ET report.Defence counters have seen significant fluctuations in recent months. The sector saw a robust rally last year after Indian armed forces conducted targeted strikes against terrorist groups in Pakistan and Pakistan-occupied Kashmir. However, the uptrend later lost steam in the absence of new catalysts.Even as defence counters could witness a strong rally amid the escalating conflict, the wider equity market is expected to stay subdued.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
Business
Stock Market News Live Updates: Sensex Down Over 1,000 Points, Nifty Below 24,900; India VIX Jumps Nearly 20%
Nifty, Sensex Stock Market Today Live Updates: Indian benchmark indices continued their downward trajectory on Monday, tracking weak global cues as geopolitical tensions between the US and Iran escalated.
As of 11:00 AM, the Sensex was trading 1.34 per cent, or 1,086.02 points, lower at 80,201.17, while the Nifty50 declined 1.31 per cent, or 350.55 points, to 24,828.10. Shares of Larsen & Toubro, InterGlobe Aviation and Adani Ports and Special Economic Zone were among the biggest laggards in the Nifty 50 index.
Broader market indices also traded in the red, with the Nifty MidCap and Nifty SmallCap indices falling 0.93 per cent and 1.3 per cent, respectively. Among sectoral indices, the Nifty Auto was the worst performer, sliding more than 2 per cent as shares of Maruti Suzuki India and Mahindra & Mahindra came under pressure.
On the other hand, the Nifty Metal index declined the least, making it the relatively best-performing sectoral index in early trade despite the overall weak market sentiment.
Global Cues
Over the weekend, Iran’s Supreme Leader Ayatollah Ali Khamenei and several senior officials were killed in a joint US-Israel military operation. The conflict appears set to intensify, with US President Donald Trump vowing to retaliate after American servicemen were killed in Iran’s counterattacks, according to agency reports.
Asian markets tumbled in early Monday trade. Japan’s Nikkei 225 and South Korea’s Kospi dropped as much as 2.7% and 2.43%, respectively.
On Sunday, US stock futures declined more than 1% after the strikes on Iran. Both the S&P 500 and the Dow Jones Industrial Average were reported to have fallen 1.11% each.
During the Asia session, Dow Jones Industrial Average futures and S&P 500 futures were down 0.6% and 0.54%, respectively.
In commodities, oil prices surged amid rising concerns over supply disruptions in the key producing region. Brent crude futures jumped 13.76% to $82.37 per barrel — the highest level since January 2025 — according to Bloomberg data.
Gold and silver futures rose more than 1% as investors turned to safe-haven assets.
-
Business1 week agoEye-popping rise in one year: Betting on just gold and silver for long-term wealth creation? Think again! – The Times of India
-
Tech1 week agoThese Cheap Noise-Cancelling Sony Headphones Are Even Cheaper Right Now
-
Politics1 week agoPakistan carries out precision strikes on seven militant hideouts in Afghanistan
-
Sports1 week agoKansas’ Darryn Peterson misses most of 2nd half with cramping
-
Entertainment1 week agoViral monkey Punch makes IKEA toy global sensation: Here’s what it costs
-
Sports1 week agoHow James Milner broke Premier League’s appearances record
-
Sports1 week ago
Mike Eruzione and the ‘Miracle on Ice’ team are looking for some company
-
Entertainment1 week agoSaturday Sessions: Say She She performs "Under the Sun"
