Stellantis will invest $41 million in Italian factory for electric vehicle components production
Stellantis plans to invest 38 million euros ($41 million) in its Verrone plant in northern Italy to produce electric vehicle (EV) powertrain components, Reuters reported.
The investment aims to enhance the manufacturing of steel components for electric drive modules, which are currently produced in the company’s other European facilities.
Production at the Verrone plant begins at the end of 2027, with Stellantis fully producing more than 400,000 units per year.
Additionally, the company is considering the possibility of an increase of 200,000 units in annual output, depending on the performance of the European automotive market.
The move comes as the European auto market faces a challenging transition period, with no expected growth in electric vehicle sales.
Automakers, including Stellantis, are working hard to encourage consumers to get rid of combustion engines, such as strict CO2 Emission regulations.
In addition to new electric vehicle engine parts, the Verrone plant will continue its existing gasoline engine vehicle transmission production.
Last year, the facility generated more than 200,000 transmissions. The plant currently has about 350 employees.
Earlier this month, Stellantis’s Jeep Brand announced its plans to produce the next-generation Jeep Compass in Italy.
The model is scheduled to debut in Europe this spring and will be produced at the Melfi plant.
The upcoming Jeep Compass will be built on the STLA mid-sized platform, offering an expanded powertrain lineup to suit the preferences of a wide range of customers.
These include e-Hybrid, E-Hybrid plug-in and fully electric options, demonstrating Stellantis’ commitment to electrification.
“Stellantis invests $41 million in an Italian factory for electric vehicle components production” was originally created and released by GlobalData-owned brand Just Auto.
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