The CEO of Stellantis, Carlos Tavares, revealed that Fiat will continue production of the gasoline-powered Panda until 2030, contrary to what was previously planned.
The combustion engine version of the well-known Fiat city car model was scheduled to be discontinued in 2027, however, the brand will keep the model in production for three more years, despite a 100% electric Panda being planned to be presented later this year.
“We hear fake news that Stellantis wants to leave Italy. We are investing heavily in Italy”, revealed Carlos Tavares, during the start of production of double-clutch electrified transmissions (eDCT) for hybrid and plug-in hybrid electric vehicles at its historic Mirafiori complex in Italy, representing the next step in an investment of around €240 million at the site and in the Italian automotive industry, leading to the creation of the Mirafiori Automotive Park 2030. Carlos Tavares also announced an additional investment of €100 million to increase the potential of the iconic Fiat 500e.
“We intend to defend our leadership position in Italy against all competition, including Chinese manufacturers, regardless of the support they may receive in the country. Our Italian employees demonstrate their skills, fighting spirit, and resilience every day. I want to warmly and sincerely thank them for all their support to Stellantis. Shareholders can rest assured that we will continue to protect and nurture our roots through new, sometimes surprising ways.”, emphasized Carlos Tavares.
It is worth noting that Stellantis is investing over €50 billion worldwide in electrification over the decade to meet the objectives of the Forward 2030 strategic plan, aiming to achieve a 100% sales mix of fully electric vehicles for passenger cars in Europe and 50% for passenger cars and light commercial vehicles in the United States by 2030. To reach these sales targets, the company is ensuring an approximate capacity of 400 GWh in batteries, with the support of six battery factories in North America and Europe.
