By David Sachs

Stellantis NV said it and suppliers will invest 200 million euros ($213.4 million) in Algeria as it plans to offer Fiat models there starting Tuesday and will begin manufacturing later this year.

The Netherlands-based car giant said Sunday that it plans a footprint in the North African country that includes the sale of six models and the production of four, beginning with the Fiat 500 hybrid at the end of the year. Its manufacturing plant will open in Tafraoui in August, with the first cars leaving the line in December, the car maker said.

By 2026, the company plans to produce up to 90,000 vehicles a year over four different models. The auto maker said it aims to sell 1 million vehicles in the region by 2030 and create a strong sales and after-sales commercial network.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

March 20, 2023 06:55 ET (10:55 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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