(Ecofin Agency) - With its proposed plan, Stellantis aims to move quickly towards “highest internal integration.”
The automotive group Stellantis announced, today (October 13), an agreement with the Algerian government for the installation of a Fiat-branded cars production plant in the country.
The agreement was signed, in Algiers, during a ceremony chaired by Ahmed Zaghdar, Algerian Minister of Industry, and Carlos Tavares, Stellantis CEO. It provides for the production of passenger cars and utility vehicles and “the development of industrial, after-sales and spare part activities, an Algerian news agency reports. The industrial site will be located in Oran, a port city located 432 km from Algiers.
“For Stellantis, the mission is very clear. [...] with the FIAT brand, we will bring to Algerian society the best. We have to offer mobility that is safe, clean, and affordable. We will bring models, platforms, and technologies,” said Stellantis Group CEO Carlos Tavares during the signing ceremony.
Stellantis “understood the country’s interests. We will unite quickly towards the highest internal integration,” he added.
For Minister Ahmed Zeghdar, the agreement, which is the embodiment of excellent relations between Algeria and Italy, comes after intensive consultations between the two parties.
Stellantis was born, in 2021, from the merger of French group PSA and Italian-American corporation Fiat Chrysler Automobiles. Currently, it has 14 brands including Peugeot, Citroën, Fiat, Alfa Romeo, and Dodge. In 2021, it announced a record US$15.1 billion profit and a US$172.2 billion turnover.