Fiat and Tata Announce Joint Venture

ROME July 25, 2006; The AP reported that Italian carmaker Fiat Group and India's Tata Motors Ltd. announced Tuesday they have signed an agreement for a joint-venture in India to make passenger vehicles, engines and transmissions for Indian and overseas markets.

Fiat and Tata also said in a statement they have also agreed to study the possibility of industrial and commercial cooperation in Latin America, which traditionally has been a big market for the Italian automakers.