12 Jan '18, 3am

#FiatChrysler to invest US$1b, pay bonuses on US tax cut

#FiatChrysler to invest US$1b, pay bonuses on US tax cut

[WASHINGTON] Fiat Chrysler Automobiles is investing US$1 billion in a Michigan truck factory and paying worker bonuses in the wake of a US tax cut, gestures that could come in handy amid major policy matters being sorted out in Washington. The Italian-American carmaker will share the spoils of a lower corporate tax rate by sending US$2,000 cheques to about 60,000 US workers. Fiat Chrysler also will spend more than US$1 billion and add 2,500 jobs at a factory near Detroit to produce heavy-duty Ram pickups that the company been making in Mexico. The moves may prove useful to Fiat Chrysler's cause. Threats by US President Donald Trump to withdraw the US from the North American Free Trade Agreement or dramatically rework the deal have spurred warnings from the car industry of major harm. The president also has said he'll cut carmakers a break on fuel economy standards his admi...

Full article: http://www.businesstimes.com.sg/transport/fiat-chrysler-t...

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