Serbia has agreed a $200 million deal (£159.3m) with carmaker Stellantis to produce electric vehicles (EVs) in the country.
The car manufacturer will now build new EVs in Kragujevac, including the proposed replacement for the Fiat 500L small minivan.
Production for this vehicle is expected to start in 2024, with the government having a 33% stake in the factory.
Stellantis is looking to sell only EVs in Europe by the end of the decade and the CEO Carlos Tavares believes this deal is a great step in that direction.
“This new platform for EVs will fit perfectly with products from A, B and C categories and will improve efficient and clean solutions for urban mobility of our brands,” he said.
Serbian President Aleksandar Vucic said that the country needs to become more involved in the EV market and that with this deal “a new era begins today”.
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