Fiat Sets Up Alfa Romeo Joint Venture In China
Fiat will build Alfa Romeo vehicles in China starting in July, 2012, as part of a joint venture with local partner Guanhzhou Automobile Group Co Ltd.
Company president Zeng Qinghong told Automotive News that “Besides the Fiat brand, after talks between the two shareholders, we will introduce the Alfa Romeo brand to the venture company.” No timetable was given for when the vehicles would go on sale, but the new venture would be dubbed Guangqi Fiat.
Guangqi Fiat will initially produce 140,000 vehicles annually, and will likely expand beyond just Fiat and Alfa Romeo cars. Fiat has large interests in commercial vehicles, trucks and other vehicles. Alfa Romeo will also have to compete in an increasingly crowded premium vehicle segment in China.
[Source: Automotive News]
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