Italy Gears Up to Become Europe's Auto Giant

Stellantis aims for Italy to become Europe's second-largest auto producer by 2029, following discussions with the Rome government. Despite recent challenges, the company pledges not to close factories and plans a hybrid Fiat 500 to boost production. The next generation of the 500 will be manufactured in Turin.

Stellantis is setting ambitious goals for Italy, with plans to make it Europe's second-largest auto producer within the next five years. The announcement came from Jean-Philippe Imparato, head of Stellantis' Europe operations, emphasizing the company's commitment ahead of critical discussions with the Rome government.

Industry Minister Adolfo Urso expects Stellantis to unveil a solid plan to revitalize Italy's auto production during a crucial meeting on December 17, involving trade unions. Currently, Italy stands as the seventh largest auto producer in Europe, needing to surpass heavyweights like France and Spain to rise in ranks.

Despite recent corporate turbulence triggered by CEO Carlos Tavares' resignation and a profit warning for 2024, Stellantis remains resolute about Italy's future. The automaker has vowed not to shutter any Italian factories and plans to revive sales with a new hybrid Fiat 500 model, ensuring ongoing operations at Turin's Mirafiori plant.

(With inputs from agencies.)