Fiat Lines Up 6 Joint Ventures

Fiat International president F Pilastro said the company is presently conducting a feasibility study to introduce a new range of automobiles in the country. He was addressing a session at `Destination India', a global summit on investment opportunities in India, on Monday.

The new cars to be manufactured in India will maximise the use of indigenous component, he said.

Fiat, which has an association with Premier Automobiles Ltd (PAL) since 1950, has recently launched the Fiat Uno car in India in a joint venture with PAL.

The Italian industrial conglomerate is also finalising an agreement with some local business groups to set up a joint venture company in Uttar Pradesh, through another group firm Alimenta. The new company will process tropical fruits for marketing fruit drinks in the domestic market.

 

Magneti Marelli, a $4-billion Fiat group company, has decided to manufacture car components like exhaust systems and heating and conditioning systems in a joint venture with an Indian partner. Ashok Leyland, the firm in which Fiat has a majority stake, will make a fresh investment of $300 million to manufacture 38,000 trucks every year.