TECH - Stellantis Plans To Build Two More Hybrid Vehicles In Italy Amid Political Tensions: Report | Benzinga
Automaker Stellantis NV (NYSE:STLA) is reportedly considering the production of two additional hybrid vehicles in Italy, a move seen as an attempt to placate local politicians while contemplating shifting some manufacturing to cheaper countries.
What Happened: The automaker plans to manufacture hybrid versions of a Jeep model at the Melfi plant in southern Italy and the Fiat 500 at the Mirafiori facility in Turin, Bloomberg reported on Monday. The information comes from sources familiar with the matter.
Chief Executive Officer Carlos Tavares is set to present this proposal during a meeting with local unions in Turin on Monday. The initiative is part of Stellantis's strategy to increase its vehicle production in Italy to 1 million units by 2030, up from approximately 750,000 last year.
Stellantis's plans hinge ...