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Fiat to set up new plant in China

Sep. 24, 2012 (China Knowledge) - Fiat SpA, an Italian auto producer, has announced that it plans to set up its second Chinese plant to further expand the market, source reported.

Jack Cheng, general manager of Guangqi Fiat, a joint venture between Fiat SpA and Hong Kong-listed Guangzhou Automobile Group Co Ltd<2238>, said the company might build a new plant in south China in future.

At June 28, 2012, Fiat's first China plant was completed in Changsha, Hunan province. With a total investment of RMB 5 billion, the first phase of its Changsha plant has an annual output capacity of 140,000 units.

Meanwhile, Guangqi Fiat will enlarge its dealers to 100 units in the next few weeks from 88 current units, said Robert Graczyk, business director of Guangqi Fiat.

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