Fiat plans to boost ties with China, India: reports
September 04, 2008
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Italian car maker Fiat is in talks with Chinese companies about possible partnerships and is considering further tie-ups in India, Italian media reported Thursday, citing the company's chief executive.
Fiat is in discussions with "a certain number" of potential partners in China, chief executive Sergio Marchionne said, cited by Italian media on the sidelines of a car show in New Delhi.
A deepening of Fiat's foothold in the Asian economic powerhouse would offer it a chance to boost sales which have suffered recently from a sagging market in Europe.
The magazine Automotive News reported that the group was in talks with the Guangzhou Automobile Industry Group in China, where it already has ties with Chery Automobiles.
Fiat's truck subsidiary Iveco is also linked to SAIC Motor and Chongqing Heavy Vehicle Group.
The Turin-based company is "thinking of two or three operational partners like Tata," the Indian auto giant with which Fiat has already forged a partnership, Marchionne was quoted as saying by the daily Corriere della Sera.
"Fiat aspires to a two-figure share of the market in India."