(April 18, 2012) Mirko Cvetkovic, Prime Minister of the Republic of Serbia, together with Sergio Marchionne, CEO of Fiat SpA, on Monday inaugurated the new Fiat car production facility in Kragujevac.

In welcoming the Prime Minister, Marchionne paid tribute to Serbia’s significant program of modernization which has created “a dynamic environment that is attractive to foreign investors. It is a great privilege for Fiat to be able to participate in the country’s future growth.”

This opening represents the conclusion of three years of extensive and comprehensive work at the 1.4 million square meter site, which included improvements to the surrounding infrastructure, new roofing for the plant, new production shops, land remediation and the installation of world class machinery and production systems. A total of approximately €1 billion has been invested at the site.

The Kragujevac plant will produce the new Fiat 500L, which had its world premiere at the Geneva Motor Show this March. The 500L will be exported to markets in Europe and around the world with commercial launch planned for the last quarter of 2012.

By the end of 2012, some 2,400 people will be employed at the plant plus a further 1,000 with suppliers at the nearby supplier park. Once fully operational, the plant will have a production capacity of up to 200,000 cars per annum.