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Fiat Chrysler to build new car battery hub in Turin

Reuters
Updated
The logo of Fiat carmaker is pictured at a dealership in Orvault near Nantes

MILAN (Reuters) - Fiat Chrysler <FCHA.MI> will build a new battery assembly complex in its Mirafiori plant in Turin, with an initial investment of 50 million euros, the carmaker said on Tuesday.

Batteries produced in the new complex will be used by the new generation of full electric models that the company is planning to roll out, Fiat Chrysler (FCA) said in a statement.

The investment is part of a plan announced by FCA last year to spend 5 billion euros in Italy between 2019-2021 to help the group to launch its first electric and hybrid models and to fill capacity utilisation at its Italian plants.

Work on the new battery hub will start early next year, FCA said.

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Between 2020 and 2021 FCA is scheduled to launch a full electric version of its small 500 car, Maserati's first hybrid and electric models, hybrid models of Jeep's Compass and Renegade and a light hybrid version of its Panda small car.

(Reporting by Giulio Piovaccari. Editing by Jane Merriman)