MOSCOW (Reuters) – Stellantis will produce Fiat Scudo light commercial vehicles in Russia and export them to other markets, the global carmaker said.
Stellantis owns a 70% stake in a car plant in the Russian city of Kaluga where it plans to produce the vehicle. Mitsubishi owns the remaining 30% stake.
Fiat Scudo production in Russia will start by the end of 2022, Stellantis said in a statement this week.
The firm said it was turning the Kaluga plant into an export hub that would supply engines and cars to Europe, Latin America and North Africa.
Stellantis was formed this year through a $52 billion merger between Fiat Chrysler and France’s PSA Group.I
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.