Stellantis (STLA) said late Tuesday it plans to invest $13 billion over the next four years to expand its business and manufacturing footprint in the US.

The investment will support the launch of five new vehicles across the brand portfolio, along with 19 refreshed products in US assembly plants and updated powertrains planned through 2029, according to a statement.

The new investment will increase annual finished vehicle production by 50% from current levels and create over 5,000 jobs at its plants in Illinois, Indiana, Ohio, and Michigan, the company said.

Shares of Stellantis rose 1.2% during after-hours activity.