FCA made a €700 million investment in a new assembly line for the Fiat 500 BEV where the annual capacity will reach 80,000 units.
The Mirafiori plant in Turin, Italy is celebrating its 80th birthday this year. The manufacturing facility, owned by Fiat Chrysler (FCA), is getting quite a makeover announced the carmaker.
Indeed, FCA made a €700 million investment that includes design, development, engineering and construction of the assembly line. The assembly line, for the new Fiat 500 BEV, is set to start running during the second quarter of 2020. It will have an annual capacity of 80,000 units, with the potential for expansion.
Pietro Gorlier, FCA COO for the EMEA Region said, “This car was entirely conceived, designed and engineered here. It is a genuine product of ‘Made at Fiat’ and ‘Made in Turin’ ingenuity. It is another excellent example of the ability to create and innovate which abounds in our company and in this city. In Turin, we are developing a new electric mobility center of excellence which currently employs 260 people. The new Fiat 500 electric represents just the first phase of our investment plan for Mirafiori.”
This project is part of the massive €5 billion investment plan by FCA that will unfold in the next two years. A total of 13 all-new or “significantly refreshed” models is the plan as well as 12 electrified versions of new or existing models.
Gorlier added that “despite the challenging macro-economic climate, and consequent weak market conditions, we have confirmed our investment plan and today’s ceremony is a concrete sign that our projects are advancing at speed.”