The venture on Tuesday confirmed uncertainty over the timing of the construction of the Termoli and the German gigafactories in a meeting at the industry ministry
Italy ’s government will reallocate some €200-million in European Union funds it had previously earmarked for a plan by Stellantis ACC , a battery joint venture in which Stellantis is the largest investor, had plans for three gigafactories in Europe.
But the growth in EV demand is moving at a slower pace than some in the industry had projected, and competition is stiff from battery producers and automakers in Asia and North America. Industry Minister Adolfo Urso said he would use the EU funds to support separate investments consistent with Rome’s energy strategy to make its economy greener.
Termoli Acc Gigafactory Plan Government Venture Construction Mercedes ACC North America
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