Poland: Fiat to put out $773 million in factory investment image

According to the Polish government, the recently created Fiat Chrysler Automobiles has big plans for the manufacturing facility it owns in the south of Poland.

The planned 2.36 billion zlotys ($773 million) upgrade investment should be used I order to prepare the manufacturing facility to produce a new Fiat model, which should be the successor to the aging Punto.

Fiat though said these are “assumptions that at this moment have not yet been firmed up in the company’s business strategies. The information on investment plans that will be implemented in individual countries will be announced at the appropriate time along with the industrial choices that the company decides to take,” Fiat added.

According to an official Polish government statement, the Punto successor – which should be a longer and wider version of the 500 minicar already being built at Fiat’s plant in Tychy, with the carmaker adding around 420 new employees to support the 3,000 workforce already on site.

The investment should be made by 2017, as Fiat desperately needs a good selling successor to the small class model, traditionally a strong segment for the Italian brand in Europe – but with sales faltering now. The new model’s production would be 96% exported, including to North America, where Fiat tries to assert its namesake brand.

Via Automotive News Europe