Stellantis is considering investing around $10 billion in the US

Automaker Stellantis plans to invest about $10 billion in the United States to refocus on a market that is key to the company’s profits, Bloomberg reports, citing sources.

The investment could be directed to plants in Illinois and Michigan and include new investments in Dodge and possibly the Chrysler brand.

According to sources, Stellantis plans to add $5 billion in new investments on top of its previous commitment of a similar amount for the US market.

Negotiations are ongoing, no final decision has been made, and the amount and target projects are subject to change.

The new spending reflects the efforts of Chief Executive Officer Antonio Filosa, who took the helm in May, to recalibrate investments in different regions. Under his predecessor, Stellantis sought to shift production and engineering operations to lower-cost countries such as Mexico. The company also invested heavily in Europe.

The new investments could also help fulfill a promise made to Donald Trump by company chairman John Elkann to produce a new midsize pickup truck at the company’s idle plant in Belvidere, Illinois.

Stellantis spokespeople, commenting on the information for the press, responded as follows: as part of preparations for the company’s strategy update and Capital Markets Day next year, the CEO is conducting a thorough assessment of all future investments, and this process is ongoing. They did not provide further details.

Earlier, it was reported that Stellantis plans to suspend production at several European plants. The company seeks to adapt production rates to the challenging European market.