Home |Sat 29 Dec 2007
Fiat ends Chinese venture amid tough competition in fastest growing car market
Posted by News Editor under Business and EconomyEuronews reports:
Italy’s Fiat says it has pulled out of a money-losing Chinese joint venture with Nanjing Automobile after the firm merged with bigger Chinese group Shanghai Motors SAIC. Fiat will keep working with Nanjing in making vans and parts, but analysts say the break-up casts doubt on Fiat’s ability to meet its target of selling 300,000 units in China by 2010.
