Stellantis to Invest $108.6 Million in More Affordable Electric Fiat
By David Sachs
Stellantis will spend an additional 100 million euros ($108.6 million) to create a more affordable electric Fiat, in a bid to broaden its customer base and boost manufacturing in Italy.
The multinational carmaker said Wednesday that the investment will fund a redesign of the Fiat 500e that will include battery tech meant to lower the price of the electric car for consumers.
As a result, manufacturing should increase in Mirafiori, the site of the company's Turin plant, where Stellantis laid off employees last month. Italian Prime Minister Giorgia Meloni's government has been prodding the company to boost production since last year.
The investment is part of its Mirafiori Automotive Park, a EUR240 million design, production and recycling hub being built by Stellantis.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
April 10, 2024 11:05 ET (15:05 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Powell Unfazed By Sticky Inflation, but Rate Cuts Are Far Off
-
After Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?
-
Best- and Worst-Performing Stocks of April 2024
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Small-Cap and Value Stocks Are Undervalued
-
Why We Expect the Job Market’s Slowdown to Renew in 2024
-
5 Undervalued Stocks to Buy to Play a Little Defense
-
10 Top-Performing Dividend Stocks of the Month
-
Marathon Petroleum Earnings: No Change to Competitive Position, but Shares Look Expensive
-
Charlie Munger and How Not to Invest
-
Look Inside Berkshire Hathaway’s Portfolio Before Its Annual Meeting
-
After Earnings, Is AT&T Stock a Buy, a Sell, or Fairly Valued?
-
Mastercard Earnings: A Stable Environment Highlights the Firm’s Strengths
-
Pfizer Earnings: Solid Results Supported by Steady Tracking Toward $4 Billion In Cost Cuts
-
Starbucks Earnings: Not a Lot to Like About Results as Global Traffic Sputters