👀 Copy Legendary Investors' Portfolios in One ClickCopy For Free

Factbox-How does Stellantis plan to revive its Italian production?

Published 12/17/2024, 12:49 PM
Updated 12/17/2024, 02:15 PM
© Reuters. FILE PHOTO: People walk next to the N.13 gate of the Franco-Italian automaker Stellantis factory of Mirafiori, in Turin, Italy October 15, 2024. REUTERS/Remo Casilli/File Photo
STLAM
-
STLA
-

(Reuters) - Carmaker Stellantis (NYSE:STLA) on Tuesday announced a plan to revitalise its output in Italy during a meeting with Industry Minister Adolfo Urso and representatives of suppliers and trade unions, drawing a line under months of fraught relations between the government and Fiat-maker Stellantis.

Following are the main points set out by Jean-Philippe Imparato, head of the carmaker's European operations.

OVERALL PLAN

Stellantis will keep all of its Italian factories open and increase output from 2026 thanks to the launch of new models. All Stellantis plants in Italy will have production allocations until 2032 and will not require public funds for planned investments.

Imparato said the automaker would invest 2 billion euros ($2.1 billion) in Italy in 2025 alone. Stellantis invested a total of 10 billion euros in Italy in the 2021-2025 period, he added.

GOVERNMENT

Italy's Industry Minister Adolfo Urso pledged the government would spend 1.6 billion euros to support Italy's automotive supply chain, with more than one billion euros to be made available next year.

Funds from Rome will not be used for new car purchase incentives in 2025, as happened this year.

POMIGLIANO D'ARCO PLANT

Stellantis will produce at least two compact models at the facility in southern Italy, where the automaker will introduce its new 'STLA Small' platform from 2028.

The group will also extend the production of the old Panda city car in Pomigliano until 2030 and assign to the same plant the next generation of the vehicle.

MELFI PLANT

Jeep Compass, Lancia Gamma and DS7 - three of the mid-sized models scheduled to be produced at the southern Italian plant, starting from 2025 - will be made in both fully electric (EV) and hybrid versions. This will help triple expected production volumes for the facility, Imparato said.

The plant will also manufacture in Melfi the DS8 model, in an EV version only.

CASSINO PLANT

Stellantis will build three large-sized models at this plant in central Italy, including the new Alfa Romeo Stelvio SUV from next year and the Alfa Romeo Giulia sport sedan in 2026. They will be followed by a further top-end model.

Initially planned only as EVs, Alfa Romeo's Stelvio and Giulia are now also being considered for hybrid versions, Imparato said.

MIRAFIORI COMPLEX

Stellantis reiterated a hybrid version of the 500 city car will be manufactured at the Turin facility, home of Fiat (BIT:STLAM), from late 2025. The next generation of this model will be produced at the plant here until 2032-2033.

The group is considering to increase eDCT gearbox production at the complex from 600,000 units a year now to 900,000 units a year.

Stellantis will establish its headquarters for its European operations in Mirafiori.

ATESSA VAN MAKING PLANT

Production of large EV vans at the plant in the Abruzzo region, central Italy, started late this year, under the Fiat Professional, Peugeot (OTC:PUGOY), Citroen and Opel/Vauxhall Movano brands.

A new version of Stellantis large van is scheduled in 2027.

TERMOLI PLANT

ACC (NS:ACC), the battery making JV where Stellantis is the largest investor, continues to reassess a plan to transform the engine making facility into a gigafactory, based on technology evolution, market demand and Italy's general production conditions.

ACC earlier this year stalled an initial plan to develop two gigafactories, in Italy and Germany, while operation have started already at its gigafactory in France.

© Reuters. FILE PHOTO: A man walks past a logo of Stellantis outside the company's building in Chartres-de-Bretagne near Rennes, France, September 20, 2024. REUTERS/Stephane Mahe/File Photo/File Photo

MODENA PLANT

The plant, home of Maserati, Stellantis luxury brand, will become the group's hub for 'high end', Imparato said, without giving further details about plans to revive ailing Maserati brand.($1 = 0.9523 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.