Stellantis Plans $99 Million in Facility Investments, Production of Four-Cylinder Turbo Engine
01 August 2022 - 06:01PM
Dow Jones News
By Kathryn Hardison
Stellantis NV plans to invest a total of $99 million across
three North American plants to facilitate the production of a
four-cylinder turbocharged engine.
The company said Monday that the investments will be made at the
Dundee Engine Complex in Michigan, the Kokomo Casting Plant in
Indiana and the Etobicoke Casting Plant in Toronto.
Stellantis's new engine is a 1.6-liter, I-4 turbocharged unit
with direct fuel injection and flexibility for
hybrid-electric-vehicle applications, the company said.
Production is expected to begin in early 2025.
Roughly $83 million, the majority of the investment, will be
made at the Michigan plant, which will become the final assembly
location for the new engine, the company said. Engine blocks will
be cast at the Indiana plant, where Stellantis said it will invest
$14 million. The remaining $2 million will be funneled into
equipping the Toronto facility for oil pan production.
Shares climb 1.3% to $14.10, down 15% for the year.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
August 01, 2022 11:46 ET (15:46 GMT)
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