Fiat and Peugeot will invest in Sevel for five more years

MILAN, July 9 Tue Jul 9, 2013 6:57am EDT

MILAN, July 9 (Reuters) - Italian carmaker Fiat said on Tuesday it will invest 550 million euros ($707.55 million) to build light trucks in Italy over the next five years, while its partner Peugeot will invest 150 million euros.

Fiat and Peugeot will invest a combined amount of over 700 million euros to build the Fiat Ducato, the Peugeot Boxer and the Citroen Jumper, Fiat said in a statement.

Fiat and Peugeot build the vehicles at their Sevel factory joint venture. The accord is due to end in 2019.

Fiat did not indicate plans after that date.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.