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Fiat Chrysler plans to open a new SUV assembly factory in Detroit, CNBC reports.

Why it matters: This comes on the heels of General Motors announcing plans to lay off 15% of its workforce, over half of which would be in Michigan, and shutter five plants, including one in Detroit.

Report: Fiat Chrysler plans new Detroit factory

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Fiat Chrysler plans to open a new SUV assembly factory in Detroit, <a class="gtmContentClick" data-vars-link-text="CNBC reports" data-vars-click-url="https://www.cnbc.com/2018/12/06/fiat-chrysler-reportedly-plans-to-open-new-assembly-factory-in-detroit-to-build-suv.html" data-vars-content-id="80d76d56-6c71-4768-927b-75145f2cb335" data-vars-headline="Report: Fiat Chrysler plans new Detroit factory" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.cnbc.com/2018/12/06/fiat-chrysler-reportedly-plans-to-open-new-assembly-factory-in-detroit-to-build-suv.html" target="_blank">CNBC reports</a>.Why it matters: This comes on the heels of General Motors announcing plans to lay off 15% of its workforce, over half of which would be in Michigan, and shutter five plants, including one in Detroit.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Report: Fiat Chrysler plans new Detroit factory

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