Italy reallocates €200m EU funds from Stellantis' battery factory to green energy initiatives amid halted construction.

Italy is reallocating €200 million in EU funds from Stellantis' planned battery factory in Termoli due to halted construction by ACC, a joint venture with Mercedes and TotalEnergies. The shift follows a strategic move to focus on lower-cost electric vehicle batteries amid decreased demand. Industry Minister Adolfo Urso stated the funds will now support Italy's green energy initiatives, while Stellantis will maintain engine production and job stability in Termoli.

September 17, 2024
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