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Stellantis commitments in Italy unaffected by early loan repayment

by Mike Robinson

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© Reuters. FILE PHOTO – This image was provided by Stellantis on November 9, 2020. Communication FCA/Handout via REUTERS/File photo

MILAN (Reuters), Despite having to repay a 6.3 Billion Euro ($7.03B) state-backed loan early, Stellantis’ management confirmed that it will continue its efforts to save jobs and plant in Italy.

Stellantis stated Friday that Italy’s leading lender Intesa Sanpaolo had been repaid its loan.

Stellantis may be exempted from Rome’s conditions by paying off the loan. These include keeping jobs in its Italian operations, timely payments to suppliers, and financing domestic investment, especially for electric vehicles.

($1 = 0.8963 euros)

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