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Fiat Chrysler To Spend 700 Million Euros For Fiat 500 Electric


Fiat Chrysler to spend 700 million euros for Fiat 500 electric as the carmaker proceeds onward from its fizzled $35 billion offer to converge with France’s Renault, a pioneer in electric vehicles. Pietro Gorlier, FCA chief operating official for Europe, Middle East and Africa declared the Italian-American organization’s greatest single wager on an electric vehicle at its Mirafiori plant in Turin, northern Italy on Thursday.

Gorlier told correspondents that FCA had begun building the new generation line at Mirafiori to turn out 80,000 of the new 500 BEV, its first battery electric vehicle to be advertised in Europe. The first 500 model, propelled by Fiat in the late 1950s and referred to warmly as the ‘Cinquecento’, rapidly become a sign of Italian urban plan.

Laborers in Fiat’s main residence are additionally wagering on the half breed adaptation of Maserati’s Levante SUV, on which generation is relied upon to begin one year from now, to help support their working hours.

Since, previous CEO Sergio Marchionne asked customers not to purchase the vehicle in 2014 as FCA was losing cash on it, and said he would have liked to sell the most modest number conceivable.

Moreover, the 500 BEV will contend in the upmarket little vehicle section with BMW’s (BMWG.DE) Mini. The German organization said for the current week the new electric adaptation of its minimized vehicle would begin to achieve customers from spring one year from now. In relinquishing its merger offer for Renault, FCA censured French legislative issues for leaving what might have been a milestone arrangement to make the world’s third-greatest automaker.

About the author

Sean Mendis

Sean Mendis

Sean Mendis is a reporter for MR Time. After graduating from the University of Tennessee, Sean got an internship at a morning radio show and worked as a journalist and producer. He covers national and community events for MR Time. You can contact him at

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