FCA to Invest $788 Million for New 500 EV Production

Date: July 11, 2019
Source: Reuters

TURIN, Italy -- Fiat Chrysler Automobiles will invest $788 million to build a production line for the new electric version of the 500 model (BEV), a top group executive said.

FCA on Thursday installed the first production robot for the future 500 electric vehicle assembly line at its historic plant of Mirafiori, in Turin, which will produce 80,000 units a year. Production will start from the second quarter of 2020, said Pietro Gorlier, FCA's chief operating officer for Europe, Middle East and Africa.

The investment on the 500 BEV is part of a $5.6 billion plan to 2021 FCA has announced for Italy.

The production capacity could be expanded further, Gorlier said.

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