Stellantis to produce Fiat Scudo van in Russia

A view shows the logo of Stellantis at the entrance of the company's factory in Hordain, France

Stellantis (STLA.MI) will produce Fiat Scudo light commercial vehicles in Russia and export them to other markets, the global carmaker said.

Stellantis owns a 70% stake in a car plant in the Russian city of Kaluga where it plans to produce the vehicle. Mitsubishi (8058.T) owns the remaining 30% stake.

Fiat Scudo production in Russia will start by the end of 2022, Stellantis said in a statement this week.

The firm said it was turning the Kaluga plant into an export hub that would supply engines and cars to Europe, Latin America and North Africa.

Stellantis was formed this year through a $52 billion merger between Fiat Chrysler and France’s PSA Group.

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