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Italy's industry ministry pledges tax benefits for Fiat for hybrid car development

Italy's industry ministry pledges tax benefits for Fiat for hybrid car development
FILE PHOTO: Fiat 500X is displayed at the LA Auto Show in Los Angeles, California, U.S., November 20, 2019. REUTERS/Lucy Nicholson -
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LUCY NICHOLSON(Reuters)
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ROME (Reuters) – Italy’s industry ministry pledged 27 million (£21 million) euros in tax benefits for Fiat Chrysler <FCHA.MI> for the production and development of hybrid and electric cars in three of its Italian productions sites.

The agreement signed on Tuesday offers incentives for the purchase of equipment for the plants of Melfi, Orbassano and Turin-Mirafiori, and is part of a broader programme of investments in innovation and research worth almost 140 million euros ($154 million), to be completed by 2022.

(Reporting by Angelo Amante, editing by Giulia Segreti)

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