Fiat has started 90% of planned investments in Italy, says executive

Fiat Chrysler has already started 90% of the investments earmarked for Italy, the automaker’s COO for the EMEA region Pietro Gorlier stated on Monday.

FCA – which is finalizing merger talks with France’s Peugeot owner PSA – announced in 2018 that it would invest 5 billion euros ($5.5 billion) in Italy up to 2021.

The plan is intended at helping the group release its first electric and hybrid models and to fill capacity utilization at its Italian plants.

Gorlier stated that regardless of unfounded speculation, FCA has “consistently confirmed the plan through action, with no delays”.

“Around 90% of investments have been kicked off,” he stated, according to the text of a speech he gave at the Italian auto industry association ANFIA assembly, in the FCA plant located in Melfi, southern Italy.

As part of its 5 billion euro strategy, FCA will launch form in 2020, its full-electric 500 small car and hybrid and electrified models of its Maserati, Jeep and Alfa Romeo brands.