Fiat 500L Serbia Production Gets World Bank Help

Fiat 500L 1 photo
Photo: Fiat
Fiat’s Kragujevac factory is a joint venture with the Serbian government. It was created when the Italian automaker took over the defunct Zastava Automobili to become a 67 percent owner of Fiat Automobili Srbija.
Right now, the factory only make the Punto supermini for export, but it’s getting ready to ramp up production from 20,000 a year to 140,000 in 2013. Why? Because of the new 500L, a four door version of the popular city car with retro looks.

Automotive News Europe
today reports that one of the parts suppliers for the factory, PMC Automotive, a joint venture between Italian automotive supplier CLN Group and PROMA Group, has receives a massive €20 million ($26 million) loan from the World Bank.

We have no details of what they will be making, bum PMC Automotive currently has metal stamping facilities. But €20 million will bet you a gearbox factory of an interior parts factory these days.

The 500L will arrive in Europe in Q4 2012 and will be exported to the states in early 2013.
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About the author: Mihnea Radu
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Mihnea's favorite cars have already been built, the so-called modern classics from the '80s and '90s. He also loves local car culture from all over the world, so don't be surprised to see him getting excited about weird Japanese imports, low-rider VWs out of Germany, replicas from Russia or LS swaps down in Florida.
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