Fiat Chrysler invests $1.1 billion in next-gen 500 EV

Fiat Chrysler will pour US$788 million ($1.1 billion) into the next-generation Fiat 500 EV, despite failing to merge with Renault. The investment will be used (in part) to build a new production line at Fiat Chrysler's plant in Turin, Italy, initially capable of building 80,000 units per year. The plant will employ around 1200 people dedicated to electric vehicles.