The automotive market already full of people in China will soon welcome a new and ambitious competitor manufacturer Guangzhou Automobile local group has made plans to create a new joint venture with Fiat Fiat called Guangqi.
Speaking to reporters on the Guangzhou Auto Show this week, Chinese President Zeng Qinghong said that Guangqi Fiat will start production in July 2012.
More interesting, Qinghong, has revealed that the joint venture should also build Alfa Romeo cars in the domestic market.
"In addition to Fiat, the negotiations between the two partners, we will introduce the Alfa Romeo venture," said Qinghong. "We are still discussing the program," he added.
The new joint venture between Fiat and Guangzhou Automobile Group is the first of an annual production capacity of about 140 000 units. According Qinghong, Guangqi Fiat gradually evolved into a "multi-brand and multi-product manufacturer."
Story References: Reuters
0 comments:
Post a Comment