By Cristina Roca 
 

Stellantis NV said late on Monday that it will create an electric-vehicle production center in Turin, Italy, and move production of its Maserati brand there.

The car maker will create a new electrified platform for the Maserati brand, with a view to creating three electric Maserati models between 2022-24.

The decision means workers will gradually be relocated from the company's nearby Grugliasco site to the new site, but it won't have any impact on overall employment levels in the area, the French-Italian car maker said. The Grugliasco site will stay operational and support production of some of the brand's models, the company said.

Stellantis said that production of the fully electric Fiat 500 and its entire range of electric motors will also take place in Turin.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

October 12, 2021 02:34 ET (06:34 GMT)

Stellantis (BIT:STLA)
Historical Stock Chart
From Apr 2022 to May 2022

Stellantis (BIT:STLA)
Historical Stock Chart
From May 2021 to May 2022