Fiat Chrysler Automobiles N.V said it will invest $1.48 billion in its Sterling Heights Assembly Plant (Mich.) to build the next generation Ram 1500 pickup truck, and support the future growth of the Ram brand.
The company also said that production of the Chrysler 200 will end in December in order to begin the transformation of the plant. Future plans for the Warren Truck Assembly Plant (Mich.), which currently builds the Ram 1500, will be announced at a later date,the company added.
Fiat said in a separate statement that it will change the way it reports monthly U.S. vehicle sales. Earlier this month, the company confirmed that it was being investigated by the Securities and Exchange Commission over complaints that the company over reported sales figures.
Using a new reporting methodology, the company found that between 2011 and 2016, some 4,500 cars had been reported as sold that remained in dealer stock as of Jun. 30, 2016.
