03 January 2010

FIAT to Ramp-Up Production to 1M+ Units in Italy

FIAT SpA plans to increase its car production in Italy to up to 1 million vehicles over the next three years, but is going ahead with a contested plan to shut down a factory in Sicily, the company's Chief Executive Sergio Marchionne said this week.

The Turin-based world autotive empire FIAT's CEO Marchionne said at a meeting with government and union officials that it plans to restructure its industrial network to increase production from this year's 650,000 to a range between 800,000 and 1 million.

The government has been urging the industrial giant to increase production in Italy. On Tuesday, Marchionne said Fiat would spend €8 billion ($11.42B) in investments and R&D over the next two years, and over 65% of that in Italy.

He said that under the restructuring plan, a
FIAT factory in Turin would produce two Chrysler models by 2012 for sales in European markets...

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