Fiat to spend PLN 2.4 billion in Tychy

Italian car manufacturer Fiat said it will spend PLN 2.36 billion on launching production of a new model in its Polish factory in Tychy, according to reports by Puls Biznesu. The investment plan in contingent on the concern receiving tax reliefs available in the Katowice Special Economic Zone.

 

Fiat plans to spend the money on welding, painting and assembly lines as well as on acquiring technologies. The investment is set to be completed by the end of 2017. It will create 420 new workplaces and help maintain the existing 3,000.

 

The manufacturer may count on PLN 1.033 billion in public subsidies for the investment. As much as 96 percent of the total stock of the new model will be exported, including to North American markets.