Iconic FIAT Brand Launches in Algeria
Stellantis announces launch of six FIAT carlines coming to Algerian customers starting March 21: Fiat 500 Hybrid, Fiat 500X, Fiat Tipo, Fiat Doblò, Fiat Scudo and Fiat Ducato Investment contributes to development of the automotive sector in Algeria with a scaled plan covering manufacturing in Tafraoui – Oran of localized FIAT models and development of a robust sales and aftersales commercial network First wave of investments from Stellantis and its suppliers totaling over €200 million to manufacture four models with start of production of FIAT 500 in December 2023
Stellantis today announces the launch of FIAT brand in Algeria to meet the Algerian customers’ expectations with a wide range of models during a ceremony chaired by Mr. Ali Aoun, Minister of Industry and Pharmaceutical Production, Mr. Tayeb Zitouni, Minister of Commerce and Export, HE. Mr. Giovanni Pugliese, Ambassadors of Italy in Algeria, HE. Mr. Abdelkrim Touahria, Ambassadors of Algeria in Italy, Mr. Samir Cherfan, Stellantis Middle East and Africa Chief Operating Officer, Mr. Olivier François, FIAT Chief Executive Officer and Stellantis Global Chief Marketing Officer, and Mr. Hakim Boutehra Managing Director of Stellantis Algeria, Tunisia.
“Supporting the Fiat project and hence, the development of the automotive ecosystem in Algeria has an historical symbolism that reflects the long-lasting good relations between the two countries. By combining our efforts, this project will become a benchmark in terms of integrability and complementarity. Currently, we are conducting a study in the factory which is likely to open up great horizons to go beyond the primary ambitions,” said Mr. Ali Aoun, Minister of Industry and Pharmaceutical Production.
This investment phase materializes the automotive specifications agreement signed on November 2022 with the Algerian Investment Promotion Agency (AAPI) ratifying the framework agreement signed on October 13, which launched the development of industrial, aftersales and spare parts activities for FIAT, one of Stellantis’ iconic brands, as well as the development of the automotive sector in Algeria. A first wave of investments from Stellantis and its suppliers will total over €200 million to manufacture the four models.
Today, Algeria is positioned as one of the key contributors to Stellantis Middle East and Africa (MEA) Dare Forward 2030 strategic plan. This launch of FIAT brand will pave the way to achieve Stellantis MEA ambition to reach one million vehicles sold in the region by 2030 with 70% regional production autonomy bringing us closer to customers’ needs.
The Tafraoui – Oran plant construction phase will be completed by August 2023 and production for the first FIAT 500 is planned by end 2023. By 2026, it will create nearly 2,000 new local positions, reach a localization rate of over 30%, a production capacity of 90,000 vehicles per year and ultimately produce four FIAT models. To ensure a high level of service for Algerian customers, the sales and aftersales network will cover 28 Wilayas in Algeria by end 2023.
“Stellantis is committed to Algeria and will provide its extensive global and regional know-how in terms of manufacturing and commercial performance. We are bringing this expertise at the service of the FIAT project in Algeria to deliver state-of-the-art manufacturing and best-in-class commercial services to ensure the best customer experience in the market. I would like to thank the Algerian authorities, our local partners and the teams who are working extensively to make the FIAT Project in Algeria possible!” said Samir Cherfan, Chief Operating Officer, Stellantis Middle East and Africa.
“This morning we celebrate the return to Algeria of Fiat: an iconic brand with one of the five longest automotive traditions in the world. Since 1899 our brand’s mission hasn’t changed: providing accessible, intelligent answers to each customer’s mobility needs. The 500 Hybrid will be the first FIAT to be built here followed rapidly by the Doblò and, in a few years, a brand-new model – now still in the hands of our designers – will also be produced in Algeria.
But, today, we are already opening orders for the 500 Hybrid and for two ‘family stars’: Tipo and 500X, as well as for our ‘stars of the LCV world’: Ducato, Scudo and Doblò. So, in Algeria, there’s already a FIAT for every need” said Olivier François, FIAT brand CEO.
Additional details on the upcoming six carlines: Fiat 500 Hybrid The iconic city car was the first step in FIAT’s electrification journey and today is the first hybrid vehicle in Algeria. Available in the hatchback version, powered by a 1 liter 3-cylinder engine which delivers 70 HP, it reduces CO2 consumption and emissions by up to 20%. The “Dolcevita” opening edition will come in the three colors of the Italian and Algerian flag: Rugiada Green, Gelato White and Passione Red.
Fiat 500X The compact SUV with Italian style, offering peace of mind and safety at the wheel. State-of-the-art connectivity is provided by Uconnect 7″ HD LIVE touchscreen, with Apple CarPlay integration and Android AutoTM compatibility. Available in two versions: entry level and top of the range with a 1.4 petrol 140 HP engine complete with dual-clutch transmission.
Fiat Tipo The FIAT family mover is the ideal car for families, looking for a functional car to meet every day travel needs. Tipo is a car to go anywhere, from city centers to trips out of town. It is available in the sedan body and equipped with a 1.6 etorq 110 HP automatic transmission.
Fiat Doblò Versatile, spacious, flexible and fit for everyone’s needs, the Doblò offers innovative and ingenious solutions to improve everyday driving. The vehicle suits all the demands of professional workers, with a touch of Italian ingenuity. It comes as a van equipped with a 1.6 HDI 90 HP engine with manual transmission. With a load capacity up to 1 ton, it is perfectly suited for any daily mission.
Fiat Scudo The Scudo is a stress-free partner for any worker. As a van for true professionals with the comfort of a car, it comes with a 2.0 HDI 150 HP manual transmission engine. With a load capacity up to 1.4 tons, it offers modularity at its best with no compromise.
Fiat Ducato Ducato embodies 40 years of leadership and success in the LCV sector. A model that combines excellent characteristics of scope, volume, efficiency, flexibility technology, onboard comfort, safety and performance. With an eye for style. The 2.2 diesel 140 HP manual transmission engine powers a van with best-in-class load capacity: up to 2.2 tons.
FORWARD-LOOKING STATEMENTS This communication contains forward-looking statements. In particular, statements regarding future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, future financial and operating results, the anticipated closing date for the proposed transaction and other anticipated aspects of our operations or operating results are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis’ current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the impact of the COVID-19 pandemic, the ability of Stellantis to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; Stellantis’ ability to expand certain of their brands globally; its ability to offer innovative, attractive products; its ability to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the intense level of competition in the automotive industry, which may increase due to consolidation; exposure to shortfalls in the funding of Stellantis’ defined benefit pension plans; the ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the establishment and operations of financial services companies; the ability to access funding to execute Stellantis’ business plans and improve its businesses, financial condition and results of operations; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in Stellantis’ vehicles; Stellantis’ ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with our relationships with employees, dealers and suppliers; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in Stellantis’ vehicles; developments in labor and industrial relations and developments in applicable labor laws; exchange rate fluctuations, interest rate changes, credit risk and other market risks; political and civil unrest; earthquakes or other disasters; risks and other items described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2022 and Current Reports on Form 6-K and amendments thereto filed with the SEC; and other risks and uncertainties. Any forward-looking statements contained in this communication speak only as of the date of this document and Stellantis disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning Stellantis and its businesses, including factors that could materially affect Stellantis’ financial results, is included in Stellantis’ reports and filings with the U.S. Securities and Exchange Commission and AFM.