trending Market Intelligence /marketintelligence/en/news-insights/trending/_qdKeWAQg9NFUIW5vFXZew2 content esgSubNav
In This List

Fiat Chrysler to invest nearly €1B in Alfa Tonale, Panda hybrid production

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Fiat Chrysler to invest nearly €1B in Alfa Tonale, Panda hybrid production

Fiat Chrysler Automobiles NV will invest nearly €1 billion, or $1.1 billion, to produce the new Alfa Romeo Tonale compact SUV and a Panda hybrid minicar at its Pomigliano plant near the Italian city of Naples, Automotive News magazine reported Sept. 4, citing labor unions.

Metal mechanic unions FIM, UILM, FISMIC, UGLM and AQCF announced the plan following a meeting with Fiat Chrysler officials, the report said. A Fiat Chrysler spokesperson reportedly confirmed the plans but did not say whether the "premium compact SUV" to be produced in Pomigliano would be the Tonale.

Production of the hybrid Panda is expected to roll out by the first half of 2020, while Tonale production will start in the first half of 2021, the news outlet added.

The investment is in line with Fiat Chrysler's industrial plan, which was announced in 2018, to boost production in its Italian facilities.

Earlier this year, Fiat Chrysler's luxury car brand Maserati unveiled plans to upgrade its Modena plant to accommodate production of a new sports car model. In July, the company said it will invest €700 million to produce an updated and electrified version of the Fiat 500 at its Mirafiori plant.