Trump meeting with big three auto CEOs

Posted January 25, 2017

General Motors plans to invest $1 billion in US factories and add thousands of new white-collar jobs, measures that have been in the works for years but were announced January 17 after criticism from President-elect Donald Trump.

The new president's frequent use of social media has created an entirely new kind of public-relations channel, one that companies are trying to exploit, in particular by touting their hiring announcements.

The companies also discussed autonomous and electric vehicles and Trump asked about advanced vehicles, the person said. In the past, he's called for auto companies to keep jobs in the United States and cancel plans to build plants overseas. "None of us have had a tweeting president before". "This is good timing for us to share what we are doing".

Trump also has mentioned corporate tax codes as an area where the government could become more business-friendly. "We are building the biggest factory in the world right here, creating United States jobs", he said.

Another decision these companies will have to make will be what comes back from Mexico. Inconsistent rules threaten the industry with "potentially billions of dollars in fines", said the trade group, which represents most of the world's biggest automakers including GM, Ford, Toyota Motor Corp. and Volkswagen AG.

Innogy IGY.DE, Germany's largest energy group, sees no reason to scrap plans to enter the US onshore wind market, its chief executive said, unimpressed by worries over future support of renewables in the Trump administration.

"We have a very big push on to have auto plants and other plants - many other plants", Trump told reporters.

Reporters See Changes Made To The Oval Office By Trump
Trump revealed before that he admired the former British Prime Minister: "I love Winston Churchill, I love the guy". Obama's decision of replacing Winston Churchill's bust with that of Martin Luther King Jr had drawn a lot of flak.

The White House didn't respond to questions as to why the foreign automakers weren't invited to Tuesday's meeting or if they'll be included in future auto industry summits. I believe in it. Trump threatened GM with a tax for importing some Chevrolet Cruze hatchback compact cars from Mexico.

'NO WAY! Build plant in USA or pay big border tax, ' Trump told the vehicle company. GM and Fiat Chrysler have each pledged $1 billion in investment toward domestic assembly, though both companies have said their plans were made prior to Trump winning the election.

In a statement following today's meeting, Marchionne thanked Trump for his focus on making the US business-friendly.

Despite the hiring and investment plans announced in the US, most of the automakers' Mexican operations are due to stay in place.

Busy week planned with a heavy focus on jobs and national security. None of the Detroit three of built a new plant on American soil in at least a decade; during that time, many have been shuttered.

Fiat Chrysler's job announcements were part of a plan announced previous year to get out of the small and midsize auto business and shift production to trucks and SUVs, including a new Jeep pickup. Ford is, however, still planning to move the production of smaller cars in its lineup to Mexico, at an existing facility.