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Stellantis to extend halt in output of electric Fiat 500 on poor demand
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Stellantis to extend halt in output of electric Fiat 500 on poor demand
Oct 2, 2024 10:01 PM

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)

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