ROME (Reuters) -Automaker Stellantis, whose brands include Fiat, Jeep and Peugeot, is on target to appoint a latest chief executive in the primary half of the 12 months, Chairman John Elkann said on Wednesday.

Elkann confirmed the timetable as he addressed a session on the Italian parliament. The carmaker is searching for a successor to Carlos Tavares following his departure last December.

Elkann also confirmed that Stellantis had earmarked 2 billion euros ($2.2 billion) of investment for Italy this 12 months as a part of plans to assist boost production.

Stellantis late last 12 months presented the Italian government with an upbeat plan to revitalise its output within the country after months of falling production because of soft European demand, especially for electric vehicles (EVs), high prices and growing competition form Chinese manufacturers.

The plan got here just days after Tavares resigned and helped improve relations between Italy’s sole major automaker and Rome after months of bitter confrontation.

Stellantis last 12 months manufactured fewer than 500,000 vehicles within the country, down from 751,000 in 2023, with automotive production particularly at its lowest since 1956.($1 = 0.9179 euros)

(Reporting by Giulio PiovaccariWriting by Keith Weir, editing by Gavin Jones)