EV Could Be Produced at Fiat’s Sicily Plant

Sergio Marchionne’s decision to shut down production at Fiat’s Termini Imerese factory in Sicily seems to have serious repercussions, as the unions launched strikes in Fiat plants across the country. The automaker has serious arguments for closing the plant and moving the Lancia Ypsilon production to Poland. According to the company, no less than 1,000 Euros are lost per car.

Claudio Scojola, Italy’s industry minister, told Canale 5 that eight to ten offers are on the table for Fiat’s Termini Imerese factory, but decided to keep them secret for the moment. This week, FT newspaper cited Simone Cimino, chairman of Cimino & Associates Private Equity, as saying that he is interested in the plant and that he needed a minimum investment of EUR 65 million (US$88.8m) to start making EVs at the factory.

Building EVs in Sicily could really support the economy in the area. Things seem quite serious, especially as Cimino told the newspaper he has already raised about EUR 50 million from investors including the Sicilian regional government and French bank Natixis.

The newspaper also said that Simone Cimino was in talks with EV car maker Reva. The venture would have to sell 30,000 cars each year in order to break even. The investor plans to reduce production time by updating the technology in the factory. The EVs produced in Sicily would sell between EUR 17,000 and EUR 18,000.

The options for the plant will be analyzed on March 5, when industry ministry officials, unions and Fiat management are scheduled to meet.