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​Serbia: contract signed between the Serbian Government and the Stellantis Group for the production of a new electric car model

A contract between the Automobile Manufacturer Stellantis and the Serbian Government for the production of electric vehicles in the Kragujevac plant was signed at the presence of the President of the Republic of Serbia Vucic and the CEO of Stellantis Tavares.
The contract provides for a 190-million-euro investment, 48 millions of which are financed by the Serbian State through incentives of the Ministry of the Economy, in the production of a new FIAT-brand electric car model (to replace the FIAT 500 L model produced up to now). A transient period is scheduled for 2023 to set up the new production line while the new cars are expected to leave the Serbian plant in the third quarter of 2024. President Vucic said that the contract with Stellantis represents a new quantum leap for Serbia, also with a view to further accelerating the “green transition” period through the use of electric and hybrid vehicles. He also recalled that FIAT, with its 350 million euros worth of exports, is in Serbia’s list of 10 top exporters and the newly signed contract could relaunch Belgrade’s role in the global automotive industry.