Fiat has announced a $1 billion investment to launch a lineup of compact cars in Europe starting 2016.

Fiat has announced a $1 billion investment to launch a lineup of compact cars in Europe starting 2016.

The vehicles will be produced in Turkey by Fiat's joint venture Tofas and these models will be replacements for the aging Bravo hatchback, Linea sedan and the Stilo MultiWagon which was phased out back in 2008. $520 million of the investment will be going into building 580,000 units of the sedan while the rest of the $480 million are for assembling 700,000 units of the hatchback and estate.

The investment will kick off this year and production is programmed to commence in 2016 until 2023, with most of the cars being targeted for export in European countries. All of them will be sharing the platform with the Fiat 500L / 500X and the Jeep Renegade. These three new compact cars are going to be produced in Bursa, Turkey where they are currently assembling the Linea, Doblo and Fiorino along with other non-Fiat models like the Peugeot Bipper, Opel/Vauxhall Combo and the Citroën Nemo.

As a side note, Fiat stopped Italian production of the Bravo in July at the Cassino factory but the model is still being manufactured in Brazil.

Be part of something big

Fiat investing $1 billion in Bravo, Linea and Stilo MultiWagon replacements due 2016