Fiat Chrysler Automobiles to invest EUR 700 million in production line for electric version of its 500 model

Fiat Chrysler Automobiles plans to invest 700 million euros in an electric makeover of its iconic Fiat 500, FCA’s chief operating officer for Europe, Middle East and Africa, Pietro Gorlier, announced on Thursday

He said FCA would invest the 700 million euros to build a new production line at Mirafiori to turn out 80,000 of the new 500 BEV. Production will start in the second quarter of 2020, with capacity to be expanded later, Gorlier said, as reported by Reuters.

The 700 million euros investment is part of a plan announced last year to invest 5 billion euros in Italy up to 2021.