MILAN (Reuters) – Carmaker Stellantis said on Thursday it had signed a framework agreement with Algeria to develop activities of its Fiat brand in the county, including for local production of vehicles.
The deal covers a project for the development in Algeria of industrial, after-sales and spare parts activities for Fiat, as well as the development of the automotive sector in the country, Stellantis said in a statement, after signing the agreement with the director of cooperation of Algeria’s industry ministry.
The world’s fourth-largest carmaker, which houses brands including Peugeot, Citroen, Alfa Romeo, Jeep and Opel, did not provide further details about the activities it will start under the agreement.
“The quality of the ongoing discussions makes us confident about the development prospects of the Fiat brand, which will be keen to meet the expectations of Algerian customers,” Stellantis CEO Carlos Tavares said.
(Reporting by Giulio Piovaccari; Editing by Emelia Sithole-Matarise)
