Electrifying Investment: Stellantis Pumps $41M into Italian EV Manufacturing Hub
Stellantis is making a significant strategic investment in electric vehicle technology, committing 38 million euros ($41 million) to transform its Verrone plant in Northern Italy into a cutting-edge manufacturing facility for electric engine components.
The automaker plans to produce critical steel components for electric drive modules, currently manufactured across other European facilities. This strategic expansion is set to commence production by the end of 2027, positioning Stellantis at the forefront of the electric vehicle revolution.
With an ambitious initial target of manufacturing over 400,000 units annually, Stellantis is demonstrating remarkable flexibility. The company has indicated it may further increase production by an additional 200,000 units, contingent upon the dynamic performance of the European automotive market.
This investment underscores Stellantis's commitment to sustainable mobility and its proactive approach to meeting the growing demand for electric vehicles in the region. By localizing production of electric drive module components, the company is not only enhancing its manufacturing capabilities but also reducing supply chain complexities.