Starting in 2024 Stellantis will produce a new electric car in the establishment of Kragujevac (Serbia), where the Fiat 500L already produces. This was announced by the CEO of the Group, Carlos Tavares, and the president of Serbia, Aleksandar Vucic.
The agreement provides a total investment of 190 million euros, of which Serbia (which owns 33% of the Kragujevac plant) will contribute 48 million.
To achieve its goals and become a 100% electricity producer by 2038, Stellantis plans to invest € 30 billion over the next four years. Part of the investment involves the development of four totally new platforms around which to articulate the entire range of the group.
Therefore, the 142 million euros that Stellantis will invest in the production of a new electric model in Serbia will not represent a great effort.
The factory of Kragujevac
However, this move could significantly contribute to the growth of Stellantis and the hybrid and electric vehicle market in Europe. In fact, after the first electric model produced in Serbia, others will probably follow.
At the moment, this new electric model from Stellantis (whose brand has not yet been revealed) is expected to start production in early 2024. Its arrival, it will replace the Fiat 500L on the assembly line, as this model will no longer be assembled. in the factory of Kragujevac.
According to what was revealed by Carlos Tavares “the platform for electric vehicles adopted in Serbia will serve products of categories A, B and C”. So the new electric vehicle could be an electric version of the Panda, or a production model of the concept car Fiat Centoventi presented in 2019.
The agreement signed by the Serbian Minister of Economy, Andjelka Atanaskovicand by the director of FCA in Serbia, Silvia Vernetti, in the presence of Tavares and Vucic, is a clear sign of the trust that exists between the two parties.
“We will be proud to see the new models roll off the production line in Kragujevac in the years to come “, stated Tavares, who defined this accordor “a turning point”.
President Vucic is also very satisfied with the signing, underlining how the agreement “represents the beginning of a new era for Serbia“. In fact, the country will have to modernize in record time before the eruption of electric and hybrid models in its automotive market.
Vucic stressed that, among other things, “they will accelerate their charging station construction projects and they will modify their strategic energy plans “. On the Serbian side, this investment should have “a positive return on terms of employment and GDP growth“. Currently, Fiat Serbia is among the top ten exporters in the country.
The plan of the Stellantis group is to produce at least 75 new models of electric vehicles by 2030, 50 of which in Europe. “Serbia is participating in this race, it is moving at the right pace and is just as busy as our company”, Tavares said.
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