The company said that Pernambuco is its first truly global plant as well as its largest and most advanced.

A total of BRL 7 billion (€2.2 billion) has been invested in the facility – which was constructed in approximately two and a half years – including BRL 3 billion for the Jeep assembly plant, BRL 2 billion for the supplier park and the remainder for product development and other investments.

This represents the single largest automotive sector investment in Brazil over the past decade and one of the most significant private sector investments in recent years.

The plant has a covered surface area of 260,000 square meters and installed production capacity of 250,000 vehicles per year. It can also produce up to three different models contemporaneously and is currently producing the Jeep Renegade for export to markets across Latin America. The plant also has an on-site supplier park.

FCA said the Pernambuco facility is strategic to the Jeep brand and further strengthens its presence in Brazil.

FCA chairman, John Elkann said: "It is a story of success that has seen us grow together for almost 40 years and led to us establishing ourselves as market leader. As a result of the union between Fiat and Chrysler, we are now even stronger and better positioned to take on the challenge of carrying out our largest development project to date here in Pernambuco, and contributing to the unprecedented growth of Jeep as a global brand."