Italian car-parts manufacturer CLN-Coils Lamiere Nastri SpA asked bank creditors to write down about 90% of their unsecured loans as it seeks to drastically reduce its debt amid the crisis in the automotive sector.

Stellantis NV is recommitting to US factory investments agreed to more than a year ago as the maker of Jeep sport utility vehicles seeks the good graces of President Donald Trump.

The United Automobile Workers union has been pressing the automaker, which owns Chrysler and Jeep, to revive the plant in Belvidere, Ill.

Big Three automaker Stellantis is making a number of moves in the US, in response to the new Trump administration and its focus on building products in America.

Stellantis announced it will reopen the idled Belvidere Assembly Plant in Illinois and launch production of a new midsize truck.

The move is related to the company’s decision to delay the REV’s 2025 debut and come to market first with the 1500 Ramcharger.

STLA Large will provide the backbone for future Dodge, Jeep, Alfa Romeo, Chrysler, Maserati models. Other Stellantis models are expected to use the platform as well. So far, the new incoming all-electric Jeep Wagoneer S and Jeep Recon EVs utilize STLA Large, along with the inbound Dodge Charger EV.

Stellantis faces significant operational challenges and competition despite being a major automotive manufacturer, leading the analyst to maintain a hold rating on the stock.

The news, announced in a letter to employees from North America Chief Operating Officer Antonio Filosa on Wednesday, also provided some good news to workers in Detroit, where the next generation Dodge Durango will be built and those in Toledo, Ohio, and Kokomo, Indiana, where investments are planned.

WASHINGTON/DETROIT (Reuters) - Chrysler parent Stellantis is moving forward with plans to build a new midsize pickup truck in Belvidere, Illinois, the company said on Wednesday, ending months of conflict with the United Auto Workers union over delays, and strengthening its U.S. production footprint as President Donald Trump takes office.

Chrysler parent Stellantis is recalling 63,082 crossover SUV's in the United States over concerns of loss of drive power due to a power transfer unit issue, the National Highway Traffic Safety Administration said on Wednesday.