Fiat Chrysler to invest over $1 billion in Ohio, Illinois plants

[July 14, 2016]    (Reuters) - Fiat Chrysler Automobiles NV said it would invest more than $1 billion in its assembly plants in Illinois and Ohio to retool them to boost production of its Jeep Cherokee and Wrangler.

The Fiat logo is seen on a Fiat vehicle displayed outside Chrysler World Headquarters during the FCA Investors Day in Auburn Hills, Michigan May 6, 2014. REUTERS/Rebecca Cook

The automaker will invest $350 million in its assembly plant in Belvidere, Illinois to produce Jeep Cherokee. The SUV's production will move to the plant from its current location in Toledo, Ohio, in 2017.

The company will invest $700 million in its Toledo facility to prepare the north plant to produce redesigned Jeep Wrangler, Fiat Chrysler said.

Sales of Fiat Chrysler's Jeep brand rose 17 percent in June and accounted for 42.5 percent of the company's total U.S. sales.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Maju Samuel)

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