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Fiat Chrysler investing $2.45 billion in Poland plant

Fiat Chrysler Automobiles plans to invest 2 billion euros ($2.45 billion) in its plant in Tychy, Poland, Deputy Prime Minister Jaroslaw Gowin said on Tuesday, in a move that will see new electric and hybrid vehicles produced at the factory.

FCA said new hybrid and electric Jeep, Fiat and Alfa Romeo models would be built in Tychy. The company wants to start production of the first of three new models for the group’s brands in the second half of 2022.

The investment comes as a boost to emerging Europe’s largest economy, which is hoping a switch to EVs can help its auto sector catch up with regional rivals such as the Czech Republic and Slovakia.

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