Reuters — 2023-12-20
Automotive Industry
Italy's government is working to encourage other major carmakers besides Fiat-owner Stellantis (STLAM.MI) to manufacture in the country and boost production, Industry Minister Adolfo Urso said on Wednesday.
Speaking in Parliament, Urso reiterated that Rome aims to strike a deal with Stellantis to increase annual domestic production of cars and vans to 1 m vehicles by 2028.
"(Italy) deserves more (than one) automaker," Urso said, adding that government officials had reached out to major foreign carmakers with a view to establishing factories in the country.
"With some of them, we are in technical discussions on where to build new production plants," he said.
Two sources familiar with the matter said the government was in contact with electric car maker Tesla (TSLA.O) and an unspecified Chinese manufacturer.
Elon Musk, the founder of Tesla, attended a gathering of Prime Minister Giorgia Meloni's party last weekend in Rome.
Production in Italy is expected to total just over 500,000 passenger cars this year against car registrations of more than 1.5 m vehicles in the country.
Stellantis, whose other brands include Alfa Romeo and Maserati, is Italy's sole major carmaker.