Stellantis and suppliers are investing more than $214 million (200 million euro) to expand the Fiat brand into Algeria and manufacture models there, as the automaker seeks to double global revenues by 2030.
The automaker said Monday it’s bringing six Fiat models for sale in the North African country starting Tuesday and will manufacture four models there starting with the 500 Hybrid city car as soon as December. The Dare Forward 2030 strategy calls for selling 1 million vehicles by 2030 in Africa and the Middle East with 70% of production to be in the region as the automaker bulks up outside its main engines of North America and Europe.
The investment will contribute to the development of Algeria’s automotive sector with a factory in Tafraoui, Oran, set for completion in August. By 2026, Stellantis expects to have created nearly 2,000 jobs there, reach a localization rate of more than 30%, and have capacity for 90,000 vehicles per year. In addition to the 500 Hybrid, Stellantis plans to build the Tipo sedan and two other vehicles, including a new one. The investment also will support sales and aftersales.
This investment phase makes progress on the automotive specifications agreement signed in November with the Algerian Investment Promotion Agency, ratifying an October framework agreement.
Algeria is only the latest investment for Stellantis in Africa. Earlier this month, it said it’s building a plant in South Africa.
bnoble@detroitnews.com
Twitter: @BreanaCNoble