Economics
Fiat CEO Is Ready to Abandon Making Mass-Market Cars in Italy
- Panda to be assembled in Poland; Mito, Punto models killed off
- Historic plants reserved for Alfa Romeo, Maserati, Jeep SUVs
Fiat CEO Thinks Big in New Manufacturing Plan for Italy
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In his final move to transform Fiat Chrysler Automobiles NV, Chief Executive Officer Sergio Marchionne is going back to the very place where it all began: Italy.
The CEO is preparing to unveil on June 1 a sweeping transformation of production in Italy that will see the company abandon the manufacture of the budget Punto and Mito cars in favor of upscale models, according to people familiar with the plan. A historic plant in Turin and another near Naples will be retooled to produce new Maserati and Jeep SUVs, while Panda output will be moved to Poland, said the people, who asked not to be named because the project isn’t public.