Shanghai, August 19 (Gasgoo.com) Chongqing government has signed a memo on light diesel engine project cooperation with Fiat Powertrain Technologies (FPT) recently at Fiat Group headquarters in Italy. The Chongqing mayor Wang Hongju and Fiat authorities attended the memo-signing ceremony, according to Chongqing Municipality's website.
FPT is planning to build a light diesel engine plant in Chongqing, which is projected to produce 100,000 units annually and 70% of the production will be for exports. The total investment of the project will reach 1.8 billion yuan ($261million).
Fiat’s joint venture, SAIC Fiat Powertrain HongYan Co (established by three parties of SAIC-IVECO Commercial Vehicle Investment Co., Fiat Powertrain Technologies and Chongqing Heavy Vehicle Group) will supply the major components for the export-oriented engines. FPT will build a wholly-owned assembly plant in Chongqing.
