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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Fiat Chrysler Automobiles N.V.    FCA   NL0010877643

FIAT CHRYSLER AUTOMOBILES N.V.

(FCA)
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Fiat Chrysler Automobiles N : EIB ups financing for Fiat Chrysler's electric vehicles to 800 million euros

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09/18/2020 | 01:30pm EDT
FILE PHOTO: FILE PHOTO: A Fiat Chrysler Automobiles sign at the U.S. headquarters in Auburn Hills, Michigan

The European Investment Bank (EIB) has increased to almost 800 million euros ($949 million) its funding to Fiat Chrysler Automobiles (FCA) to support production of electric and hybrid vehicles, they said in a joint statement.

Investments to manufacture battery electric vehicles and plug-in hybrid electric vehicles will be mainly directed at FCA plants located in southern Italy, supporting employment and compliance with the strictest environmental criteria.

To improve capacity utilisation at FCA's Italian plants, the group has announced a 5 billion euro investment plan for the country through 2021 which envisages the launch of new electric and hybrid models.

EIB and FCA had sealed 300 million euros in financing before the summer to fund investments for plug-in hybrid electric vehicle production lines at plants in Melfi, in the southern Basilicata region, and battery electric vehicles at Fiat's historic Turin plant of Mirafiori over the 2019-2021 period.

FCA has now finalised a 485 million euro deal with EIB to support both an innovative line of plug-in hybrid electric vehicles at the Pomigliano plant in the southern Campania region as well as R&D activities at FCA laboratories in Turin.

The EIB credit line covers 75% of the total value of FCA's investment in the project for the 2020-2023 period.

(Reporting by Sabina Suzzi, editing by Philippa Fletcher)


Stocks mentioned in the article
ChangeLast1st jan.
FIAT CHRYSLER AUTOMOBILES N.V. 1.23% 11.212 Delayed Quote.-15.87%
UNITED PARCEL SERVICE, INC. -2.38% 167.7163 Delayed Quote.46.85%
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Financials
Sales 2020 85 758 M 101 B 101 B
Net income 2020 -798 M -942 M -942 M
Net cash 2020 500 M 591 M 591 M
P/E ratio 2020 -28,6x
Yield 2020 -
Capitalization 17 473 M 20 683 M 20 642 M
EV / Sales 2020 0,20x
EV / Sales 2021 0,16x
Nbr of Employees 191 752
Free-Float 53,6%
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Technical analysis trends FIAT CHRYSLER AUTOMOBILES N.V.
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 12,97 €
Last Close Price 11,10 €
Spread / Highest target 161%
Spread / Average Target 16,8%
Spread / Lowest Target -41,4%
EPS Revisions
Managers
NameTitle
Michael Mark Manley President, Chief Executive Officer & Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer Chief Financial Officer & Executive Director
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
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