Manoeuvre 2025, Stellantis amendment ready: resources for automotive if production remains Italian

The government is working to increase the automotive fund to a figure that is 'at least equivalent or even higher' than the resources of the old fund. These resources will not be used for incentives, but will go to companies to support their productive investments. This is the commitment made by the Minister for Enterprise and Made in Italy, Adolfo Urso, who asks Stellantis to reaffirm the centrality of Italy in the industrial plan and says he expects "concrete news in this direction" at the table called for 17 December.

"The government is working to guarantee the auto sector resources equal to or greater than 750 million euro, adding the surplus of the allocations in the old Automotive Fund, about 200 million euro, the 500 million already made available by the Pnrr call for development contracts for companies in transition sectors, and the increase that we will try to obtain in the budget law," said Urso, on the sidelines of the question time at the Chamber of Deputies. This time, however, the minister cautioned, "the resources will all be aimed at supporting companies and their investments" and no longer at incentives for "the purchase of cars".

For the year 2025, the Automotive Fund had an allocation of 750 million. With the cut in the manoeuvre it has fallen to 200. Now with an amendment in Parliament 200 million will be restored (and we are back to 400). A further 240 million should be recovered from residues of last years' incentives (and we are at 640). Then there are 500 million old funds, already provided for in the NRP, which from 2025 will go to development contracts for all industrial sectors affected by the energy transition: so not just cars.

On the industrial front, the change of pace called for by Urso with Stellantis may have been made possible by the early exit of Carlos Tavares, since one of the reasons for the break with the group's board was not only the delay in product launches, but also 'the conflictual relationship created with all the main counterparts: suppliers, dealers, trade unions and governments', as Doug Ostermann, Stellantis's finance manager at Goldman Sachs's Industrials & Autos Week, explained. Chairman John Elkann, who took over the reins of Stellantis directly, started from this 'new course' in political relations, but not only. He immediately heard from Prime Minister Giorgia Meloni and Minister Urso, sent a video message to the workers and began a tour of the factories.

His right-hand man Jean-Philippe Imparato, who will lead the company delegation at Mimit, will meet the metalworkers' unions in Turin on 12 December. "Our industry is going through tough times. It is necessary to remain united," said Elkann who, having just returned from Auburn Hills, visited Maserati at its historic Modena headquarters. The Trident, Stellantis only luxury brand, is struggling and Elkann's visit is a sign of confidence. 'The point is not to try to spend less to make the same kind of cars, but to try to invest in the new cars of the future,' says former EU Economy Commissioner Paolo Gentiloni. According to the Financial Times, Tavares has reportedly reached an agreement on severance pay for less than his €36.5 million package from last year. The company has already clarified that it 'does not disclose the details of the resignations of its employees, including executives, except in cases provided for by law in order to respect their privacy'.