Italy aims over 1 bln euro aid for Stellantis Battery plant

[AlexB]

Italy aims to spur total investments of more than one billion euros ($1.22 billion) to build an electric car battery factory with car maker Stellantis (STLA.MI) expected to play a leading role, three government sources told Reuters.

In the plan it sent Brussels in April to access EU Recovery Funds, Rome has earmarked around 600 million euros of public money for the project to build a gigafactory in Italy.

But it is confident this could trigger further investments from industrial and financial partners to bring the total to more than one billion euros, the sources said.
Stellantis top management have met Energy Transition minister Roberto Cingolani five times in recent months, a ministry source said, adding one meeting also included managers from ACC, the battery joint venture between PSA and TotalEnergies.

Rome could face stiff competition from other EU countries, including Spain which is moving aggressively to land new battery and electric vehicle plants using billions of EU pandemic relief funds.There's a lot of competition... we'll have to offer a strong strategy and a credible team," the ministry source said.

Italy aims to generate over 1 bln euro investments for gigafactory, sources say

Italy aims to spur total investments of more than one billion euros ($1.22 billion) to build an electric car battery factory with car maker Stellantis (STLA.MI) expected to play a leading role, three government sources told Reuters.

www.reuters.com

 

[Bili]

Good.

 

[Deckard Cain]

This is extremely important. Southern Europe needs to have more battery factories to be industrialized so that we don't have to put with german and central europe arrogance.