MILAN, Oct 1 (Reuters) - Stellantis ( STLA ) will
extend the suspension of production of its Fiat 500 electric
city car until Nov. 1 due to poor demand, the automaker said on
Tuesday.
The car is made at Stellantis' ( STLA ) historic Mirafiori plant in
Turin, northern Italy. The company previously said production of
the model had been stopped until Oct. 11.
Stellantis ( STLA ) told trade unions the electric car market in
Europe is "in deep trouble", it said in a statement.
A global slowdown in sales of electric vehicles (EVs),
partly due to diverging policies on green incentives, has forced
automakers worldwide to adjust their EV plans.
Despite the temporary halt in output, Stellantis ( STLA )
reiterated its plan to invest 100 million euros ($110.93
million) in its Fiat 500e with a high-performance battery, while
from early 2006 it will begin producing the new 500 Hybrid.
Earlier this year Italy launched a
$1 billion plan
to help drivers switch to cleaner vehicles, with subsidies
for purchases of fully-electric cars.
($1 = 0.9015 euros)