Fiat Ends JV Talks with China's Chery Automobile

• Source: Caijing.com.cn
• [08:47 September 29 2009]
• Comments

Italian carmaker Fiat has ended joint venture talks with China's Chery Automobile Co. following the Italian automaker's partnership agreement with Guangzhou Automobile Group Co., Fiat China vice president Jack Cheng said September 25.

In July, Fiat and Guangzhou Auto agreed to establish a 50-50 joint venture in Changsha, southern China's Hunan province, to produce cars and engines. The venture, due to begin operations in the second half of 2011, will require an investment of 400 million euros.

The initial annual capacity will be 140,000 cars and 220,000 engines.