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Fiat Chrysler Automobiles on Sunday said it will invest $1 billion to modernize two plants in the U.

S. Midwest and create 2,000 jobs, upping the ante as automakers respond to threats from President-elect Donald Trump to slap new taxes on imported vehicles.

FCA's announcement that it would retool factories in Ohio and Michigan to build new Jeep sport utility vehicles, including a pickup truck, and potentially move production of a Ram heavy-duty pickup truck to Michigan from Mexico, also highlighted the auto industry's keen interest in getting relief from tough fuel economy rules enacted by the outgoing Obama administration.

General Motors Co Chief Executive Mary Barra on Sunday said tax reform and "streamlining regulations ... are just two areas that would be extremely beneficial" for Trump to address. Trump has criticized GM for building cars in Mexico while laying off workers in the United States.



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Fiat Chrysler Becomes the Latest To Buckle Under Pressure From Trump To Save US Jobs

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