Fiat Chrysler Automobiles NV said late Thursday it plans to invest more than $1 billion to modernize a plant in Michigan to make the next generation of its Ram heavy-duty trucks by 2020. The production of the trucks will be relocated to the Michigan factory from a plant in Mexico, Fiat Chrysler said. The move will create 2,500 new jobs, the company said, adding the announcement was made possible in part by the U.S. tax overhaul. The Mexican plant will be “repurposed” to make future commercial vehicles for the global market, the car maker said. In the same statement, Fiat Chrysler said it will pay a $2,000 bonus to about 60,000 hourly and salaried U.S. employees, excluding senior executives, in the second quarter. American Depositary shares of Fiat Chrysler rose nearly 5% in late trading after ending the regular session up 7.2%.
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