Stellantis will extend the suspension of production of its Fiat 500 electric city car until Nov. 1 due to poor demand, the automaker said on Tuesday. The car is made at Stellantis' historic Mirafiori plant in Turin,

MILAN (Reuters) -Stellantis' chief Carlos Tavares will address an Italian parliamentary committee next week on the prospects for the carmaker's production in Italy, the company said on Tuesday, after it warned about poor demand for electric vehicles.

Stellantis, Fiat's parent company, slowed production operations at the Mirafiori plant in Turin, Italy in February noting it was a response to weak market demand for the electric Fiat 500e. The slowdown was set to have the plant operating at a single reduced eight-hour shift schedule. Previously the plant was running two shifts.

Stellantis stock down 27.08% in past year, 40.17% year-to-date due to struggles in European electric vehicle market.

Despite the temporary halt, Stellantis reaffirmed its plan to invest €100 million in the Fiat 500e, which will feature a high-performance battery. Additionally, the company plans to start producing the new 500 Hybrid in early 2026.

Despite the temporary production halt in output, Stellantis reiterated plans to invest $111 million to build a high-performance battery variant of the Fiat 500e.

Stellantis will extend the suspension of production of its electric Fiat 500 city car until Nov. 1 due to poor demand, the automaker said on Tuesday. The electric Fiat 500 is made at Stellantis' historic Mirafiori plant in Turin,

Stellantis N.V. ($FR:STLAP) ($STLA) announced that it will continue to halt the production of electric Fiat 500 amid weak demand for EVs (electric