BELGRADE, July 22 (Xinhua) -- Vehicle corporation Stellantis commenced test production of a new electric model at a ceremony in Serbia on Monday, according to the government press release.
The new electric model is Fiat Grande Panda, unveiled in Turin during Fiat's 125th anniversary celebrations earlier in July. Serbian President Aleksandar Vucic took a ride in the new model upon arriving at Fiat's Kragujevac plant, where the ceremony was held, and had a meeting with Stellantis CEO Carlos Tavares.
Fiat entered a joint venture with the Serbian government in 2008, producing the 500L model, but a decade later, production at the Kragujevac plant was halted by employees' strikes and planned stoppages to adjust supply to demand. In 2022, management announced a two-year closure for major refurbishment.
In line with an agreement signed with the Serbian government in May 2022, Stellantis has invested 190 million euros (206.84 million U.S. dollars) in upgrading production facilities over the past two years, with 48 million euros in subsidies from Serbian government.
Last Friday, Serbia and the EU signed a Memorandum of Understanding (MoU) on sustainable raw materials, battery production chains, and electric vehicles, securing Serbia's rich lithium deposits for the implementation of the EU's green agenda. The deal is expected to attract more investments into Serbia's emerging EV industry. (1 euro = 1.09 U.S. dollar)
