DETROIT President-elect Donald Trump praised Ford Motor Co (F.N) and Fiat Chrysler Automobiles NV (FCAU.N) on Monday for announcing new investments in the United States after he made U.S. auto production a key part of his campaign.Ford announced last week it would abandon plans to build a $1.6 billion plant in Mexico and would invest $700 million in a Michigan plant over four years, while Fiat Chrysler said Sunday it will invest $1 billion and add 2,000 jobs at plants in Ohio and Michigan to build new SUVs and pickup trucks.Both companies have said they made the decision for business reasons and not because of pressure from Trump, but praised Trump for seeking to improve the climate for businesses to operate in the United States.
Trump, who takes office on Jan. 20, has repeatedly singled out companies in the auto sector and other industries for not doing more to keep jobs in the United States.He also criticized Toyota Motor Corp (7203.T) last week for shifting production of its Corolla from Canada to Mexico. The company has said there is no impact on U.S. employment as a result of the change.
"It's finally happening - Fiat Chrysler just announced plans to invest $1BILLION in Michigan and Ohio plants, adding 2000 jobs," Trump said in a tweet. In a follow up tweet, he added: "Ford said last week that it will expand in Michigan and U.S. instead of building a BILLION dollar plant in Mexico. Thank you Ford & Fiat C(hrysler)."
(Reporting by Susan Heavey in Washington and David Shepardson in Detroit; Editing by Chizu Nomiyama and Frances Kerry)
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Published Date: Jan 09, 2017 22:15 PM | Updated Date: Jan 09, 2017 22:15 PM