Investing.com -- Stellantis (NYSE:STLA) is investing 38 million euros ($41 million) into its Verrone facility in Northern Italy. The investment aims at manufacturing components for electric engines destined for its future small-size models. The news was announced on Monday.
The Verrone plant will produce steel parts for electric drive modules. These modules are currently being manufactured in other European facilities operated by Stellantis. The company’s statement revealed that it is planning to initiate production towards the end of 2027.
Stellantis has set an ambitious goal to roll out more than 400,000 units annually at full capacity from this plant. The company also expressed its openness to boost the annual production by an additional 200,000 units. This increase, however, depends on the performance of the automotive market in Europe.
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