Fiat Chrysler to build battery assembly complex in Italy
Fiat Chrysler Automobiles NV said Tuesday it will build a $56 million (50 million euro) battery assembly complex in Italy starting in early 2020.
The new "battery hub" will be located in the Italian-American automaker's Mirafiori complex in Turin. The batteries will supply electric vehicles the company is rolling out in the coming years as the threat of millions of dollars in fines loom from stricter European emissions regulations.
The investment is part of the more than $5.6 billion (5 billion euro) Fiat Chrysler is investing through 2021 in Italy as it introduces 13 new or refreshed models, a dozen of which will be electrified. The Mirafiori plant is expected to build an electric version of the Fiat 500 minicar starting in the second quarter of 2020. The company last month also announced plans for Maserati's first hybrid and electric models. In Detroit and Warren, Fiat Chrysler plans to build plug-in hybrid and eventually electric Jeeps.
The announcement follows General Motors Co. confirming last week that it plans to build a battery cell manufacturing facility in northeast Ohio as a part of a joint venture.