Fiat plans to establish JV in China

Fiat Group, an Italy-based automaker, is planning to set up a new joint auto venture in China. The automaker intends to launch domestically manufactured vehicles in the country. According to Jack Cheng, vice president and chief procurement officer at Fiat Group China, ‘Fiat will launch domestically-made vehicles in the future, importing complete vehicles is not a long-term plan after all.’ The automaker had withdrawn its passenger car joint venture with Nanjing Automobile in December 2007. (May 8, 2008)