Italian labor unions announced Tuesday that Chrysler-parent, Stellantis (NYSE:STLA) will begin production of five new medium-sized electric vehicle models, representing various brands, at its Melfi plant in southern Italy. These vehicles are intended for the European and Middle Eastern markets and are scheduled for production between 2024 and 2026.
Stellantis revealed details of its Melfi production plans to the unions during a meeting Tuesday morning, easing tensions between the groups following a one-day strike last month.
Production at the Melfi plant will start early next year, beginning with a DS model. The DS will be followed by the launch of the new Jeep Compass in 2025, offering both fully electric and advanced hybrid versions, as well as an additional model catering to the DS luxury brand.
The production of two more models under the Opel and Lancia brands will begin in 2026.
It's worth noting that assembly of the current models, including Fiat's 500X, Jeep's Compass, and Renegade, will be phased out between 2024 and 2025, according to statements from the FIM-CISL, UILM, FISMIC, and UGL unions.
Shares of STLA are down 1.51% in mid-day trading on Tuesday.