Fiat says JV project talks with Chery put on hold
Published: 13 Jul 2009 17:53:00 PSTShanghai, July 13 (Gasgoo.com) A top executive of Fiat China said yesterday that the talks between Fiat and Chery Auto about their future joint venture project have been put on hold, and Fiat has no immediate plan to seek another Chinese partner after Guangzhou Auto, Beijing Times reported today.
After the Italian automaker signed a joint venture agreement with Guangzhou Auto earlier this month, Chery Auto's spokesman said that his company is still in talks with Fiat though currently there is little progress to be announced. However, this statement has been denied by Fiat China.
Franco Amadei, Chairman of Fiat China, told reporters yesterday that Fiat SpA Chief Executive Sergio Marchionne and Chery Automobile Co., Ltd. Chairman Yin Tongyao met several months ago to discuss this issue and decided to suspend the Fiat-Chery joint venture project, and therefore the JV talks have came to a halt.
If you believe an article violates your rights or the rights of others, please contact us.
Digg
Reddit
Mixx it
FacebookRelated News
Most Read
- 1BYD Auto to expand into solar energy field
- 2Entrepreneurblues
- 3AUTOSHOW-INTERVIEW-UPDATE 1-Changan Ford Mazda
- 4ANALYSIS-CFTC cautious on position limits, set
- 5Beyond The Anti-Virus Arms Race
- 6Beware of phishing scams if you are using
- 7Help protect yourself from phishing scams and
- 8Xi'an to launch industrial zone
- 9China Longyuan Power plans HK$17.5-bln HK IPO
- 10INTERVIEW-StanChart eyes $800 mln in renewable
