Exciting news from the automotive world! Stellantis has announced a significant investment of €38 million (approximately $41 million) in its Verrone plant located in Northern Italy. This investment is aimed at producing steel components for electric drive modules, which will be used in the company’s upcoming small electric vehicles.

Key Highlights:
Production Start: Expected by the end of 2027.
Annual Output: Over 400,000 components at full capacity, with the potential to increase by an additional 200,000 units based on European market performance.
Current Operations: The Verrone plant currently produces over 200,000 gearboxes annually for gasoline-powered vehicles and employs around 350 workers.
Strategic Move: This initiative is part of the “Italia Plan” proposed by the Italian Ministry of Economic Development (Mimit) on December 17, 2024. The plan aims to position Italy at the core of Stellantis’ strategy by increasing the production of electric and hybrid vehicles.
Stay tuned as Stellantis continues to drive innovation and sustainability in the automotive industry!
Jean-Philippe Imparato, Chief Operating Officer of Stellantis Europe, recently stated, “We are proud of this investment, which aligns with the group’s ongoing activities across European markets. It also reaffirms the expertise and dedication of Stellantis employees in Italy, whether they are involved in the production of cars, commercial vehicles, components, engines, or transmissions.”

In other news, Stellantis Chairman John Elkann has been steering the company since the departure of former CEO Carlos Tavares in December 2024, as the search for a new CEO continues. Elkann is set to attend a parliamentary hearing in Rome on March 19, which will focus on Stellantis’ automotive manufacturing operations in Italy.

Meanwhile, the European automotive market is navigating a complex transition to electrification. Slower-than-expected growth in EV sales, coupled with automakers’ pushback against certain government measures—such as CO2 emission regulations aimed at phasing out internal combustion engines—has added to the challenges.