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Stellantis to Give Big Raises, Invest Billions in UAW Deal

The labor deal that includes a 25 percent pay hike

Chrysler-parent Stellantis has agreed to build a new $3.2 billion battery plant and invest $1.5 billion in a new mid-size truck factory in Illinois under its tentative labor agreement, the United Auto Workers union said on Thursday.

UAW President Shawn Fain disclosed new details of the labor deal that includes a 25 percent pay hike, better retirement benefits and other significant improvements and runs through April 2028 after union leaders agreed earlier on Thursday to send the deal to members for a ratification vote that will take about two weeks.

Stellantis will also offer hourly employees a company-subsidized lease program that will make it more affordable to drive a new vehicle, similar to programs U.S. automakers offer for white collar employees, the UAW said.

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