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

FILE PHOTO: A flag with the logo of Stellantis is seen at the company's corporate office building in Saint-Quentin-en-Yvelines near Paris, France, May 5, 2021. REUTERS/Gonzalo Fuentes/File Photo

MILAN (Reuters) - 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 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.