Stellantis to introduce new mass-market model as part of Italian production plan - Reuters

Investing.com -- Stellantis (NYSE:STLA ), the parent company of Fiat (BIT:STLAM ) and Alfa Romeo, is set to announce a new mass-market vehicle model as part of a long-term production strategy in Italy, according to Reuters, citing sources. The plan, which will be presented to the Italian government on Tuesday, includes the production of this new model at either the Pomigliano d'Arco plant near Naples or a facility in Cassino, south of Rome.

This announcement comes as part of an effort to boost Italian automotive production, following months of tense relations between Stellantis and the Italian government. Industry Minister Adolfo Urso is scheduled to host a meeting with the automaker, suppliers, and trade unions in Rome at 1300 GMT to finalize the plan.

The production strategy also includes an increase in the number of hybrid models manufactured in Italy by Stellantis. This comes as fully electric vehicles are anticipated to be produced in smaller volumes over the next few years.

The relationship between Stellantis and Italy's right-wing government has shown signs of improvement since the sudden resignation of Stellantis CEO Carlos Tavares earlier this month. Italian politicians had frequently criticized Tavares for allegedly neglecting the country's historic manufacturing sites and moving the production of new Fiat and Alfa Romeo models overseas.

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Source: Investing.com