Fiat Chrysler and Engie EPS, a division of French utility Engie that focuses on energy storage systems and microgrids, plan to set up a joint venture to take full advantage of an expected boom in electric mobility.
The carmaker's Italian division and Engie EPS, which is also based in Italy, have signed a memorandum of understanding aimed at setting up the joint venture in the first quarter of 2021, the two companies said on Thursday.Shares in Engie EPS, which is being advised by Lazard on the deal, were trading 16.7per cent up in Paris at 1625 GMT.
"The market for services for electrified mobility will grow explosively in the coming years," he said.
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