Fiat Chrysler To Invest EUR 5 Bln On New Models, Engines In Italy Over 2019-2021

(RTTNews) - Fiat Chrysler Automobiles (FCAU) presented the Group's industrial plan for Italy, which includes the launch of 13 all-new or restyled models during the 2019-2021 period, and the development of new power train solutions with a significant focus on hybrid and electric technologies. The company said the investment in Italy over the 2019-2021 period will total more than 5 billion euros.

FCA CEO Mike Manley said, "Mirafiori will represent the first installation of a full BEV platform applied on the new Fiat 500, capable of scaling to other applications worldwide. Additional investments across our Jeep, Alfa Romeo, and Fiat brands will realize the benefits of existing plant capacity as well as scale and sourcing efficiencies from a common vehicle architecture, and Plug-in Hybrid Electric propulsion (PHEV) system, while preserving traits unique to the brands".

Pietro Gorlier, Chief Operating Officer for the EMEA region, explained the details of the major initiatives to be launched in the next few weeks, including investment in production of the new Fiat 500 BEV at Mirafiori (Turin), and the European Jeep Compass in Melfi, leveraging the already installed vehicle platform and PHEV which underpin the Jeep Renegade. Applying that same flexible platform and PHEV technology, activities will also commence to prepare Pomigliano to produce an Alfa Romeo compact UV. A Fiat Panda MHV (Mild Hybrid Vehicle) will also be launched in Pomigliano.

In addition, Gorlier announced a new module at Termoli for production of turbo, naturallyaspirated and hybrid versions of the 1.0L and 1.3L FireFly gasoline engine.

The planned initiatives across vehicles and powertrain systems will leverage existing capacity, providing a clear product mission for the Italian plants and enabling a return to full employment.

A meeting was held today at Mirafiori (Turin) between Fiat Chrysler Automobiles and the trade union signatories to the collective labor agreement applicable to Group companies in Italy. During the meeting, management presented the product plan for Italian plants that will support implementation of the 2018-2022 Business Plan presented at FCA's Capital Markets Day last June in Balocco.