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Stellantis to build battery plant in Italy - CEO

Reuters
·1-min read
The logo of Stellantis at the entrance of the company's factory in Hordain

MILAN (Reuters) - Stellantis has reached an agreement with the Italian government to establish a battery plant in the southern city of Termoli, the carmaker's Chief Executive Carlos Tavaros said at the start of the group's "EV Day 2021" strategy event on Thursday.

"We have agreed with the Italian government to establish a gigafactory (battery plant) in Termoli, in Italy," Tavares said.

Earlier on Thursday Stellantis said it plans to invest more than 30 billion euros ($35.54 billion) through 2025 on electrifying its vehicle lineup, adding the strategy would be supported by five battery plants between Europe and North America.

(Reporting by Giulio Piovaccari, writing by Agnieszka Flak, editing by Maria Pia Quaglia)