Stellantis (STLA) is looking to move production of its luxury Maserati cars to an underused Italian factory in Modena from Turin, Bloomberg reported Friday.
The move is part of an effort to repair the company's relations with the Italian government and more may be announced in the days leading up to Stellantis Chairman John Elkann's address to parliament in Rome, scheduled for Wednesday.
The automaker plans to boost the production of hybrid Fiat 500s at Turin to make up for the lost output there, the report said.
Stellantis did not immediately respond to a request for comment from MT Newswires.
Shares were up more than 4% in recent trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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