FCA has to boost investments in Italy to seek state-backed loan, says Economy Minister

Italy’s Economy Minister Roberto Gualtieri on Monday stated that Fiat Chrysler Automobiles (FCA) has to strengthen investments in the country and avoid delocalizing its plants outside the national borders to apply for a state backed loan.

“We have asked for additional commitments to the already stringent commitments (set for such loans): all the planned investments must be confirmed and indeed strengthened… we have said no to delocalizations,” Gualtieri said in a TV interview.

Earlier, Italian Prime Minister Giuseppe Conte said on Saturday that FCA was entitled to apply for the country’s state-backed loans as the automaker employs thousands of workers in the country, even though its legal base is located outside the country.