FCA Investing $788 Million To Build All-New Fiat 500 EV In Italy
BY DAN MIHALASCU
JULY 11, 2019
Fiat Chrysler Automotive is putting behind its failed bid to merge with Renault with an uplifting announcement for the future.
The Italian-American carmaker said it plans to invest €700 million ($788 million) in the all-new, all-electric Fiat 500. That’s FCA’s biggest single bet on an electric vehicle to date.
FCA’s COO for the EMEA (Europe, Middle East, and Africa) region, Pietro Gorlier, announced the investment at the Mirafiori plant in Turin, Italy which turns 80 this year. “The plan is confirmed,” Gorlier told the media when asked if FCA remained committed to investing in electric vehicle technology after the plan to merge with EV specialist Renault collapsed.
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