Fiat to introduce new car in JV with Guangzhou Auto

Italian carmaker Fiat SpA is directing its ambitions toward the world's biggest automobile market as the market slows down in Western countries.
 
Even though most major automakers already have stabilized their foothold in China, "Fiat is not a latecomer," said Franco Amadei, chairman of Fiat (China) Group
 
This month, the company introduced its new automatic transmission Fiat Bravo car model to the China market.
 
The car is equipped with the advanced transmission technology Dualogic, which can lower fuel consumption by 15 percent.
 
Fiat has two other imported models in the China market, Punto and Linea.
 
Paolo Arpellino, chief representative officer of the Chinese operations of Fiat Group Automobiles, declined to discuss the company's sales performance in China, but said he is satisfied with it.
 
"China is Fiat's most important strategic market," Arpellino said.
 
"We hope Chinese consumers can experience our Italian design and energy efficient technologies through our imported models first," he said.
 
Arpellino told China Business Weekly that Fiat's strategy includes further developments in its imported car segment and also in local production.
 
Joint venture
 
Fiat Group and Guangzhou Automobile Group Co Ltd (GAC) signed a framework agreement during President Hu Jintao's official visit to Italy last month.
 
The agreement establishes a 50-50 joint venture for the production of cars and engines for the Chinese market.
From: China Daily

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