FCA to spend €1 billion on Alfa compact SUV, hybrid Panda


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FCA to spend €1 billion on Alfa compact SUV, hybrid Panda

On Wednesday, the 4th of September 2019, industry unions of Italian-American carmaker, Fiat Chrysler NV, headquartered in London, UK, said that the manufacturer of high-performance automobile units like of Dodge Viper and Maserati alongside low-cost passenger vehicles such as Alfa Romeo and Lancia, had been exploring a plan to invest as much as €1 billion to start-off production line of its new Alfa Romeo compact SUV Tonale and a much lighter hybrid version of its Panda small cars at FCA’s Pomigliano plant.

In point of fact, the latest investment has been a part of Fiat Chrysler’s plan announced last year, when the Italian-American carmaker had unleashed its plan to spend as much as €5 billion over the next three years to shore up capacity utilization at its Italian plants and to help the group set out its first electric and hybrid models Meanwhile, the metal mechanic unions, FIM, FISMIC, AQCF, UILM and UGLM had been quoted saying in a statement on Wednesday (September 4th) after a meet with Fiat Chrysler officials that the London-based Italian American manufacturer of Maserati would start off building its new production line for Tonale earlier next year.

Further inside the bid, confirming the claims of mechanics’ the Unions, an FCA spokesman added later on Wednesday (September 4th) that the investment for two models would be closer to €1 billion, much-higher than an earlier estimate of €500 million.