Shanghai, September 16 (Gasgoo.com) SAIC Motor and Iveco, Fiat's truck and engine division, said yesterday that they planned to develop more commercial vehicle (CV) models and expand the product lineup for their joint venture in China, media reported.
In addition to light buses and heavy-duty trucks, SAIC and Iveco will develop and make large- and medium-sized buses, special vehicles and core components. They will also jointly build a technical center and integrate their resources in China to create a leading, competitive CV giant.
SAIC Motor and Iveco have a joint venture in southwest China's Chongqing city that makes heavy-duty trucks. In late 2007, Iveco's parent Fiat withdrew from a loss-making car venture with China's Nanjing Auto after the latter merged with SAIC Motor.
In their joint statement, SAIC and Iveco said they aimed "to seize the good opportunity of the Chinese commercial vehicle market development, and continuously meet the demands of high-quality and full-range commercial vehicles."
Auto sales in China soared 81.7% last month from a year earlier to 1.14 million units. SAIC Motor is China's largest automaker in terms of sales and the flagship Chinese partner of General Motors.
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