Stellantis pledges invest $2.1 million in Italian production in 2025 during talks with government
The Stellantis automaker has pledged to invest 2 billion euros or $2.1 billion in Italian production next year and spend another 6 billion euros or $6.3 billion in the supply chain
MILAN (AP) — Carmaker Stellantis will invest 2 billion euros ($2.1 billion) in Italian production next year and spend another 6 billion euros ($6.3 billion) in the supply chain, the head of European operations told a government panel on Tuesday.
Stellantis executives laid out prospects for Italian operations just weeks after the board forced former CEO Carlos Tavares to resign amid slumping sales. He is being replaced by an executive committee led by chairman John Elkann until a new CEO is named.
Stellantis, the world’s fourth-largest carmaker, was formed from the 2021 merger of Fiat Chrysler and PSA Peugeot. Its fiscal base is in the Netherlands, but it retains headquarters in Turin, Paris and Auburn Hills, Michigan.
Stellantis European chief Jean-Philippe Imparato told the economic, labor and economic development ministers that Turin would become the headquarters of the carmakers’ European operations from January, addressing a concern among Italian officials and unions since the merger that the automaker’s center of gravity had shifted.
