Stellantis’ commitments in Italy are not affected by the early repayment of the loan

© Reuters. FILE PHOTO: The Stellantis logo is seen in this image provided November 9, 2020. FCA/Handout communication via REUTERS/File Photo

MILAN (Reuters) – The management of carmaker Stellantis has confirmed its commitment to preserving jobs and factories in Italy despite the early repayment of a state-guaranteed loan of 6.3 billion euros (7.03 billion dollars), the Uilm union said in a statement.

Stellantis said on Friday that its FCA Italy unit and other Italian subsidiaries had repaid the loan to major Italian lender Intesa Sanpaolo (OTC:).

Reimbursing the loan potentially releases Stellantis from conditions attached to it by Rome, including preserving jobs in its Italian operations, timely payment of suppliers and funding for national investments, especially for electric vehicles.

($1 = 0.8963 euros)

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