8.14Fiat's new JV in China to sell vehicles in 2011

Fiat's new JV in China to sell vehicles in 2011

 

http://autonews.gasgoo.com/auto-news/1011754/Fiat-s-new-JV-in-China-to-sell-
vehicles-in-2011.html

 

Shanghai, August 14 (Gasgoo.com) Italian automaker Fiat Spa recently said
that its joint venture with China's Guangzhou Auto will start producing and
selling Fiat vehicles in 2011, reported Shanghai Securities News today.

 

The Guangzhou-Fiat joint venture project is expected to get China's
regulatory approval later this month, and construction on the project is
scheduled to last one year and a half. The venture may start production and
sale of Fiat vehicles by the second half of 2011. 

 

Fiat signed an agreement on July 6 with China's state-owned Guangzhou
Automobile Group Corp. to produce cars in a joint venture, which will have
an investment of 400 million euros ($556 million). Sources revealed that
besides the Linea model, Alfa Romeo and other Fiat models may be built in
this Chinese venture.

 

Vehicles made by the Guangzhou-Fiat venture will be sold by dealers who sell
imported Fiat cars in China. These dealers will be merged into a new Fiat
commercial network. However, this sales network will not sell vehicles
produced by Guangzhou Auto.

 

Initially, the Guangzhou-Fiat venture will have an annual capacity of
140,000 cars and 220,000 engines, which will be later expanded to a maximum
annual output of 250,000 cars and 300,000 engines, Fiat said.

 

In late 2007, Fiat terminated its joint venture with Nanjing Auto which was
soon merged by China's auto giant SAIC Motor. Since then, Fiat has
maintained its presence in the Chinese market by selling imported models and
seeking a new partner.

 

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