Giorgia Meloni has identified a prime target for her economic nationalism agenda: Stellantis, the multinational automotive conglomerate born from the merger of Fiat and PSA Group. The Italian government has been increasingly critical of Stellantis, accusing it of insufficient investment in Italy.
This criticism comes despite Stellantis owning a range of remarkable brands, from Alfa Romeo and Maserati to Peugeot and Jeep. Meloni, who opposed the Fiat-Chrysler and PSA merger during her time in opposition, has intensified her campaign against Stellantis now that she holds power.
She argues that the company’s actions reflect poorly on Italian economic interests, especially as it operates with substantial international influence, being registered in the Netherlands. Her government has mandated that Stellantis remove Italian flags from city cars produced in Morocco and has pressured the company to rename a new Alfa Romeo model initially named “Milano” due to its Polish production.
The dispute highlights Stellantis’ unique position as the sole major car manufacturer remaining in Italy, with only Ferrari and Lamborghini, now part of Audi, as exceptions. The conflict is exacerbated by the company’s recent production issues, including a 25% drop in output in Italy and substantial job cuts. Stellantis has also paused some Italian production lines, including those for the Fiat 500 and Maserati models, affecting workers’ pay through temporary subsidies.
Despite this turmoil, Rome is exploring partnerships with Chinese car manufacturers, hoping to attract them to establish factories in Italy. This strategy aims to counterbalance the dissatisfaction with Stellantis and ensure that Italy remains a renowned player in the automotive sector. Meloni’s recent visit to Beijing and Italy’s discussions with companies like Dongfeng reflect this pivot.
The Italian government’s attempts to allure Chinese carmakers, while potentially irking Stellantis, are part of a broader effort to revitalize Italy’s automotive industry. However, experts like transport economist Andrea Giuricin suggest that while courting Chinese investors might be beneficial, it’s unlikely to swiftly replace Stellantis as a key player in Italy’s car manufacturing landscape.
Stellantis has acknowledged the ongoing dialogue with the Italian government, emphasizing their commitment to overcoming industry challenges and working collaboratively to address these issues despite a transforming automotive sector.