Italian union sees deal on Termoli battery plant by March 10

The logo of Stellantis is seen on a company building in Velizy-Villacoublay near Paris, France, February 23, 2022. REUTERS/Gonzalo Fuentes/

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MILAN, March 1 (Reuters) – Automaker Stellantis (STLA.MI) and the Italian government should be able to reach a final agreement by March 10 to build a battery factory in Italy, a senior official said. representative of one of the largest metalworkers’ unions in the country. Tuesday.

Stellantis chief executive Carlos Tavares said earlier on Tuesday he hoped to announce a deal soon to build the plant in Termoli, southern Italy, after Rome pledged last month to providing 369 million euros ($412 million) of public money. Read more

The Italian Ministry of Industry called a meeting on March 10 with representatives of companies and trade unions in the automotive industry.

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“I hope that the government, by that date, can sign an agreement to build the Termoli giga-factory,” said Gianluca Ficco, UILM’s highest representative for the automotive sector.

The battery factory would be the third in Europe for Stellantis, after those already announced in France and Germany.

It will be implemented by converting an existing engine installation.

Tavares said Termoli’s investment could be similar in size to those planned for gigafactories in France and Germany, which are being built through ACC, a joint venture Stellantis has with Mercedes-Benz (MBGn.DE ) and TotalEnergies (TTEF.PA).

The total investment for the factories in France and Germany amounts to approximately 2 billion euros each.

UILM’s Ficco said the investment in Termoli would be a milestone for Italy.

“This is the starting point for imagining the future of the Italian automotive industry as part of a transition to electric mobility,” he said.

Tavares said last year that Stellantis planned to build a battery factory in Termoli as part of its electrification strategy, but no formal agreement with Rome has yet been signed.

($1 = 0.8956 euros)

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Reporting by Giulio Piovaccari Editing by Giulia Segreti and Mark Potter

Our standards: The Thomson Reuters Trust Principles.

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