Fiat Chrysler to spend 5 billion euros in Italy to fill plants, keep jobs

Nov 30, 2018 223

BY: Agnieszka Flak, Gianni Montani

Fiat Chrysler plans to spend more than 5 billion euros ($5.7 billion) on new models and engines in Italy over the next three years to try to make better use of factories and boost jobs and margins. The plans are intended to deliver on a strategy outlined by FCA’s late boss Sergio Marchionne in June, in which he made a commitment to keep converting Italian plants to churn out higher margin Alfa Romeos, Jeeps and Maseratis and hybrid and electric versions of its vehicles to protect jobs and lift profitability.

The company will launch a total of 13 new models or restylings of existing models in the 2019-2021 period and ensure that all plants in Italy reach full employment, FCA’s new European head Pietro Gorlier told unions and journalists in Fiat’s hometown of Turin on Thursday.

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SOURCE: https://uk.reuters.com

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