Union leaders told Reuters that Fiat would invest almost EUR 1 billion for the production of Maserati SUVs in the carmaker's Turin Mirafiori factory. The production of the vehicles would begin by the end of 2014.

Minutes from a meeting with union leaders in Rome revealed that Chief Executive Officer Sergio Marchionne had made the promise for capital infusion in Fiat's plants in Italy. Fiat would also be combining its factories in Mirafiori and Grugliasco. A single luxury-car unit would be created from the resources combined from the two plants, the Fiat's minutes of the meeting showed.

Union Leader Luigi Angeletti told reporters of the agreement. "We reached an accord with Fiat, which decided to free up investments in the Mirafiori factory where the Maserati SUV will be produced," he said.

Last week, Reuters reported that the Maserati brand of Fiat attracted 17,000 orders worldwide. This was nearly triple the units sold in 2012. The report also said that Fiat intended to sell more Maseratis so that its European operations could return to profit in 2016. Last year, the weak car market in Europe cost Fiat EUR 700 million in losses.