Thursday, May 08, 2008

Fiat mulls new joint venture in China

Fiat Group, which has auto brands like Fiat, Lancia, Alpha Romeo and Maserati, is mulling over setting up a new joint auto venture in China and launching domestically manufactured vehicles in a big way, the Shanghai Securities News reported yesterday.

"Fiat will launch domestically-made vehicles in the future, importing complete vehicles is not a long-term plan after all," said Jack Cheng, vice president and chief procurement officer at Fiat Group China.

"We have finished localization authentication and commodity inspection procedures," Cheng pointed out.

"China is Fiat's important target market, and Fiat will establish a foothold there," said Paolo Arpellino, chief representative officer of Fiat Group Automobiles' Chinese operations, adding that the automaker will introduce more models to China and also realize mass production.

Fiat last December pulled out of its ailing passenger car joint venture with Nanjing Automobile. It transferred its 50 percent stake in the joint venture to Nanjing Automobile. Earlier in 2007, Fiat formed a tie-up with Chery, another Chinese brand.

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