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Italy Redirects EU Funds from Stellantis Gigafactory to New Projects

Summary by abbonews.com
ROME – Italy’s government will reallocate some 200 million euros ($222.78 million) in European Union funds it had previously earmarked for a plan by Stellantis (NYSE: STLA) to build a battery-making plant in Termoli, officials said on Tuesday. ACC, a battery joint venture in which Stellantis is the largest investor, had plans for three gigafactories in Europe. In June it said it was halting works on two of them, in central Italy and Germany, as …

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