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.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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