FCA US, a member of the Fiat Chrysler Automobiles N.V. family of companies, will invest $1.48 billion to retool its assembly plant in Sterling Heights, Michigan. The company will build the next generation Ram 1500 and support the future growth of the Ram brand.

The company designs, engineers, manufactures and sells vehicles under the Chrysler, Jeep, Dodge, Ram and FIAT brands, as well as the SRT performance vehicle designation. The company also distributes the Alfa Romeo 4C model and Mopar products.

The Company also confirmed that production of the Chrysler 200 will end in December 2016 in order to begin the transformation of the plant.

Future plans for the Warren, Michigan, Truck Assembly Plant, which currently builds the Ram 1500, will be announced at a later date, the automaker said. This production action is subject to the formal approval of incentives by state and local entities.

On July 14, 2016, FCA US announced a total $1 billion investment in its Toledo, Ohio, and Belvidere, Illinois, assembly plants to support the future growth of the Jeep brand.

Since 2009, FCA US, the seventh-largest automaker in the world based on total annual vehicle sales, has announced investments of more than $8.3 billion and added more than 25,000, including nearly 18,000 hourly, workers at its U.S. operations, officials said.