Stellantis announced it will produce a new electric vehicle in Kragujevac, Serbia, following a €190 million ($200 million) investment in the Serbian factory. Production of the yet-unnamed EV will start in 2024, while it is possible for another electric model to be built at the same production site at a later date.
As reported by Automotive News Europe, the investment was signed on Thursday by Carlos Tavares, Stellantis CEO, and Aleksandar Vucic, Serbia’s President. The Serbian state owns a 33 percent stake in the Kragujevac factory which used to be the home of the Yugo Zastava. Currently, Fiat produces the 500L minivan in the Serbian plant.
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The new model will be the first EV produced in Serbia, which wants to create a network of charging stations and establish a new energy strategy with a focus on renewable sources. On the other hand, Sttellantis said that the investment will help toward the Dare Forward 2030 strategy with the goal of becoming EV-only in Europe by the end of the decade.
The company didn’t reveal much about the upcoming EV. However, its CEO, Carlos Tavares made a comment on its underpinnings saying: “The new electric platform fits perfectly with entry-level products in the A, B, and C segments, improving the efficient and clean urban mobility solutions for our brands”. He is likely referring to the STLA Small architecture which will be utilized by Citroen, Fiat, Lancia, Opel, and Peugeot for smaller electric cars and SUVs.
Fiat has confirmed it will unveil a new electric supermini and three new electric crossovers between 2023 and 2027 when it will likely be an EV-only brand. It is rumored that one of the Stellantis EVs to be produced in Serbia will be the new generation of the Fiat Panda, closely previewed by the 2019 Fiat Centoventi concept. Fiat CEO, Oliver François, recently said that the new Panda has to be “a little rugged, simple, and robust”.
