ROME (Reuters) -Automaker Stellantis, whose brands include Fiat, Jeep and Peugeot, is on track to appoint a new chief executive in the first half of the year, Chairman John Elkann said on Wednesday.

Elkann confirmed the timetable as he addressed a session at the Italian parliament. The carmaker is seeking a successor to Carlos Tavares following his departure last December.

Elkann also confirmed that Stellantis ( STLA ) had earmarked 2 billion euros ($2.2 billion) of investment for Italy this year as part of plans to help boost production.

Stellantis ( STLA ) late last year presented the Italian government with an upbeat plan to revitalise its output in the country after months of falling production due to soft European demand, especially for electric vehicles (EVs), high prices and growing competition form Chinese manufacturers.

The plan came just days after Tavares resigned and helped improve relations between Italy's sole major automaker and Rome after months of bitter confrontation.

Stellantis ( STLA ) last year manufactured fewer than 500,000 vehicles in the country, down from 751,000 in 2023, with car production in particular at its lowest since 1956.($1 = 0.9179 euros)