India, Dec. 2 -- United Auto Workers union announced Monday that it has reached a proposed tentative agreement with Fiat Chrysler Automobiles (FCA US LLC) on a new labor contract for the hourly workers, both production and skilled trades.

The agreement will now be sent to the UAW-FCA National Council for a decision on its adoption at a meeting on Wednesday. If adopted, the agreement will be put up for a ratification vote to all Fiat Chrysler hourly and salary members, beginning on Friday.

Though the minute details of the proposed agreement were not revealed, the UAW said its negotiators secured a further amount of $4.5 billion in investments in addition to the $4.5 billion in major investments previously announced, for a total of $9 bil...