An agreement to build Stellantis’ third European gigafactory at Termoli, Province of Campobasso, Italy, has been reached between the Group and the Italian Government.
Having spoken of the project some days ago, Stellantis CEO Carlos Tavares noted that discussions jointly conducted with both the ministries and with government were still in progress, which had alarmed the unions. However, as reported by various press sources, the dossier now seems closed with an investment of circa two and a half billion euros against 370 million that should be guaranteed by the State.
CEO Carlos Taveres announced last July at Stellantis’ EV 2021 Day that the company is to invest over €30 billion in electrification and software by 2025. Following Douvrin in France and Kaiserslautern in Germany the commitment to Termoli is part of the same financial match which aims to ensure that, by 2030, electrified vehicles account for more than 70 percent of sales in Europe and more than 40 percent in the US.
The investment in Termoli will guarantee an industrial future for one of Stellantis’ three engine production plants in Italy – in addition to those of Termoli, Pratola Serra and VM in Cento. For Stellantis this comes at a very delicate time as traditional engines are undergoing a scale down within a system that currently includes engines, crankcases and gearboxes – all with six factories in Italy and a nationwide total of over 7.000 employees.