Stellantis to build a gigafactory in Italy during talks in Rome: Sources

Stellantis to build a gigafactory in Italy during talks in Rome: Sources

Stellantis will choose Italy to build a new gigabyte in Europe to help expand electric mobility as the automaker is discussing the terms of the project in Rome, a source on the subject said on Tuesday.

In April, Stellantis, which was formed earlier this year through the Fusion of Fiat Chrysler and Peugeot Maker PSA, received accessories from the giant factory in Europe and the United States that would be decided this year.

“Discussions are in the exchange phase on the principle of creating a gigafactory to cover the needs (future (Stellantis)). These conditions will have to be discussed with the Italian authorities,” the source said, adding that there was still nothing. it is decided.

(Read also | Stellantis to stop production at the Italian plant again as chip shortages worsen)

Italy is one of the main manufacturing sites for manufacturers. Stellantis has not commented. In a plan to recover 205 billion euros ($ 251 billion), Italy will spend nearly 24 billion euros on the transition to cleaner energy and sustainable mobility. As part of this, Rome plans to invest 1 billion euros to improve the battery and solar and wind industries.

Carlos Tavares, CEO of Stellantis, and President John Elkann held a virtual meeting last week with Italian Industry Minister Giancarlo Giorgetti. “An exchange was made in accordance with the principle of Stellantis battery needs coverage, and as the team produces a large number of vehicles in Italy, there would be a shared interest in discussing the terms of an Italian gig factory,” the source said.

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A government source said the minister and Stellantis discussed last week Rome, through the funds of the Italian Recovery Plan, about the contributions to the production of batteries for electric mobility. Stellantis has said it will offer electric versions of almost the entire European range by 2025 and that by 2030 hybrid and fully electric car batteries should account for 70% of the group’s European sales.

(Read also | Stellantis CEO worries about affordable electric vehicles): report

The group currently has two gigafactory projects in Europe, one in France and the other in Germany, in a joint venture with its subsidiary TotalEnergies. The two sites involve an investment of 5 billion euros and should allow the production of batteries for 1 million cars a year based on a cumulative capacity of 48 GWh.

In January, the European Union approved a plan to provide state aid to Tesla, BMW and others to support the production of electric vehicle batteries, reduce block imports and help compete with China’s industry leader.

This story has been published without text changes from a wireless agency feed. Only the title has changed.

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