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Article: CHINA'S GUANGZHOU AUTO, FIAT IN TALKS ON PASSENGER CAR JV.
- Article from:
- AsiaPulse News
- Article date:
- May 21, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SHANGHAI, May 21 Asia Pulse - Chinese automaker Guangzhou Automobile Industry Group (GAIG) is in talks with Italy's Fiat SpA on setting up a passenger car joint venture in China, with a total investment of 4.27 billion yuan (US$625.789 million).
It is predicted that the plant would go into operation in 2011, with annual output hitting 140,000 complete vehicles and 220,000 engines. But both the two sides declined to confirm or reveal further details.
GAIG expects to have access to Fiat's key technologies including the power train technologies, While ...