Multinational automotive manufacturing corporation Stellantis and the Serbian government signed on Thursday a deal to jointly invest 190 million euros to launch the production of electric vehicles in Fiat’s factory in Kragujevac.
The Serbian government will participate in the investment with 48 million euros, Serbian President Aleksandar Vucic said during a press conference, Production will begin in early 2024, he added.
Stellantis’ CEO Carlos Tavares said the company plans to launch up to 100 new electric and hybrid models by 2030.
Previous reports suggested that Fiat Chrysler Automobiles (FCA) Serbia might produce either a hybrid-powered version of its Fiat 500L model or an electric version of its Panda SUV model in the Kragujevac plant.
The company restarted operations at its factory in Kragujevac in January after a 50-day break caused by a shortage of parts. Since then, the facility has been operating at a limited capacity.
N1 TV reported earlier that the plant in Kragujevac operated for only ten days since the beginning of the year.
Stellantis was formed in 2021 as a 50-50 joint venture between FCA and France’s PSA Group.
FCA Serbia is a joint venture between FCA, which owns 67% of its capital, and the Serbian government, which holds the remainder.
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