Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

BREAKING NEWS

BREAKING NEWS

Fiat and Tata to build cars and engines together

 Comments
Fiat and Tata to build cars and engines together
Text size Aa Aa

Fiat and India’s Tata have signed a joint venture agreement. It will be based in India, making passenger vehicles, engines and transmissions for sale in India and other markets. They are also going to look at plans to cooperate in Latin America. This week Fiat announced its second-quarter earnings rose 56% and it agree three other joint projects; one with Severstal in Russia to build vans, another with Shanghai Automotive in China for heavy trucks and a vehicle financing agreement with Credit Agricole, France’s biggest bank.

Fiat and Tata have had an alliance since last year. Their joint venture will eventually produce 100,000 small cars and 250,000 engines and transmissions annually. Indian has a rapidly growing car market. It is expected to double by 2010 to two million vehicles. Fiat also said it is in early discussions about an alliance between its commercial vehicles division Iveco and Tata.