Italian car giant Fiat does not need an Asian partner to compete with its rivals.
Of late, many European car makers are tying up with Asian car makers to grab a bigger share in the world car market. But Fiat says it has no need to find an Asian partner to match recent tie-ups by European competitors with Japanese car makers.
Fiat has already bought a 20 per cent stake in Chrysler and the company feels that this tie-up is sufficient for them. Otherwise, the company might choke trying to shallow too much what it can actually intake.
Asian car makers have secured several deals recently with other car manufactures. It is just last week ago when Volkswagen agreed to buy 20 per cent stake of Suzuki Motor Corporation for $2.5 billion. This has been followed by Monday’s announcement that Beijing Automotive Industry Holding Co (BAIC) has bought some Saab assets.
Fiat is building a plant in China with Guangzhou Automobile, China’s sixth-largest auto producer and has a joint venture with India’s Tata Motors. Fiat aims to go to China with the Jeep and its deal with Chrysler “is also aimed at Eastern markets.”
Fiat also revealed that its sporty Alfa Romeo marque was not for sale under any circumstances, after a recent analyst report suggested it could be bought by Volkswagen.
Fiat would be able to significantly increase output in its native land as the government has requested during negotiations over the car maker’s future strategy and the government’s commitment to incentives for trading in old vehicles.
Fiat also said Chrysler will allow the car maker to cover market segments the company is not present in till date. Moreover, it expects to shift production of around 270,000 Panda cars from its overworked factory in Poland, either to the southern Italian Pomigliano plant or to Mirafiori, near its home base of Turin in the north-east.
Of late, many European car makers are tying up with Asian car makers to grab a bigger share in the world car market. But Fiat says it has no need to find an Asian partner to match recent tie-ups by European competitors with Japanese car makers.
Fiat has already bought a 20 per cent stake in Chrysler and the company feels that this tie-up is sufficient for them. Otherwise, the company might choke trying to shallow too much what it can actually intake.
Asian car makers have secured several deals recently with other car manufactures. It is just last week ago when Volkswagen agreed to buy 20 per cent stake of Suzuki Motor Corporation for $2.5 billion. This has been followed by Monday’s announcement that Beijing Automotive Industry Holding Co (BAIC) has bought some Saab assets.
Fiat is building a plant in China with Guangzhou Automobile, China’s sixth-largest auto producer and has a joint venture with India’s Tata Motors. Fiat aims to go to China with the Jeep and its deal with Chrysler “is also aimed at Eastern markets.”
Fiat also revealed that its sporty Alfa Romeo marque was not for sale under any circumstances, after a recent analyst report suggested it could be bought by Volkswagen.
Fiat would be able to significantly increase output in its native land as the government has requested during negotiations over the car maker’s future strategy and the government’s commitment to incentives for trading in old vehicles.
Fiat also said Chrysler will allow the car maker to cover market segments the company is not present in till date. Moreover, it expects to shift production of around 270,000 Panda cars from its overworked factory in Poland, either to the southern Italian Pomigliano plant or to Mirafiori, near its home base of Turin in the north-east.
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