Stellantis Group is planning another round of investment into its U.S. automotive branch, Bloomberg claims quoting knowledgeable insiders. According to these, the financial injection should revitalize the company’s struggling brands and help them expand their lineups. In particular, Dodge is considering launching an all-new muscle car with a traditional petrol V8 under the hood.
Earlier this year, Stellantis executives promised to invest up to $5 billion into the U.S. auto industry. The sources are now claiming that this investment figure has been approved. It will allegedly go into restarting the idling assembly lines and hiring new workers.
Revitalizing the Stellantis brands like Jeep, Dodge and Chrysler by introducing new and competitive vehicles should help them return to profitability, although we’re told that Chrysler might take longer to get back on track than the rest.
According to Bloomberg, this new investment policy runs perpendicular to that of the former Stellantis CEO, Carlos Tavares. In contrast to investing into the United States, he aimed at moving all production into cheaper regions and tried to promote the company’s main brands in the countries where they were struggling to stay afloat in the first place. It didn’t go well, to the point that lines had to be shut down, workers had to be furloughed and Tavares had to vacate his office.
The current CEO, Antonio Filosa, is expected to make an official statement about the company’s corrected strategy in a few days or weeks.
