The contract on the production of electric car in Kragujevac has been signed

We have signed a contract on financing the production of the electric car in Kragujevac. We believe that until the end of 2023 the transition period is underway. At the beginning of 2024, we will start producing one model in several factories, and this model will be produced in the third quarter of 2024 – Aleksandar Vučić, the President of the Republic of Serbia said after his meeting with the Stellantis company representatives.

President Vučić pointed out that the value of this investment is 190 million euros, and that the Republic of Serbia is going to invest 48 million euros.

This contract is of a great importance for the city of Kragujevac, as well as for the Šumadija region and the Republic of Serbia. The crucial question is not only how many people are going to be employed, but also which new values we are creating, how much the GDP will grow and how many people we will have who can keep up with the modern technologies. Important information is that by 2030 Stellantis is going to produce a little less than 80 or 100 new models worldwide, which implies that a revolution in the car market is ahead of us. Car parts for car companies worldwide have been produced in Serbia, and now we are going to produce the final product – the electric car, emphasized president Vučić.

Great news and a great day for the city of Kragujevac, Nikola Dašić, the Mayor of Kragujevac pointed out, as he referred to the signing of the contract between the representatives of the Serbian Government and the Stellantis company. This also means that there will be work to be done on the preparation of the new car model. We expect, as the President stated, and as he said to me today, that an electric car will be produced in Kragujevac. The preparations will last within this and next year, and then the serial production will begin. We are proud because, in this way, not only that our workers in Fiat will become full-time employees, but also the complete subcontracting network will have a lot of work to do in Kragujevac. What is also important is the fact that the electric car is the final product, and these are modern technologies. It’s one thing when you bring in low-tech industries in order to employ people and provide salaries for them, but it is of a much greater importance for the community when you bring in modern technologies which will be adopted, and which will be developed in our educational system and through further implementation, Mayor Dašić emphasized.

Stellantis announced today that it will install a new platform for electric vehicles for the production of compact vehicles which will begin in Kragujevac in 2024. This will help the company in its intention to achieve a full sale of passenger electric vehicles (BEV) in Europe by the end of this decade, as well as zero emissions by 2038. This announcement also confirms that Serbia and the factory in Kragujevac (in which the Republic of Serbia has a 33% ownership stake) will play a key role in Stellantis’ Dare Forward 2030 strategic plan – said Carlos Tavares, the Executive Director of Stellantis at the meeting with President Aleksandar Vučić in the building of the General Secretariat of the President in Belgrade.

The new compact car, which has yet to be named, will be produced at a factory in Kragujevac, as the successor to the Fiat 500L which is currently produced. The factory can also be configured to support potential additional quantities of another vehicle, based on continuous performance improvements.

Stellantis N.V. (NISE / MTA / Euronekt Paris: STLA) is one of the world’s leading car manufacturers and mobility service providers. Its well-known brands embody the passion of its visionary founders and today’s customers in its innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move, and Leasys.