Stellantis will move forward on plan to build new mid-size truck in Illnois

WASHINGTON (Reuters) – Chrysler parent Stellantis (NYSE:STLA) said Wednesday it is moving forward with plans to build a new mid-size pickup truck in Belvidere, Illinois.

In August, Stellantis said it was delaying its planned investments at the Illinois plant. Stellantis in 2023 agreed to build a new $3.2 billion battery plant and invest $1.5 billion in Belvidere to build new mid-size trucks by 2027. The Italian-American automaker told employees about the investment plans Wednesday after Stellantis chair John Elkann met with President Donald Trump last week and touted the company’s U.S. strategy.