MILAN (Reuters) - Italian carmaker Fiat FIA.MI said on Tuesday it will invest 550 million euros ($707.55 million) to build light trucks in Italy over the next five years, while its partner Peugeot (PEUP.PA) will invest 150 million euros.
Fiat and Peugeot will invest a combined amount of over 700 million euros to build the Fiat Ducato, the Peugeot Boxer and the Citroen Jumper, Fiat said in a statement.
Fiat and Peugeot build the vehicles at their Sevel factory joint venture. The accord is due to end in 2019.
Fiat did not indicate plans after that date.
($1 = 0.7773 euros)
Reporting by Jennifer Clark, editing by Stephen Jewkes