Guangzhou-Fiat JV likely to produce Ferrari

Shanghai, July 30 (Gasgoo.com) After more than one year's cooperation with China's Guangzhou Auto Group Co Ltd (GAC) on passenger cars, Fiat SpA, has recently decided to produce its Ferrari car in the Changsha-based Guangzhou-Fiat joint venture, GAC said yesterday.

Moreover, the Italian carmaker expects to get rid of the previous impression of low-end small cars, and tap the mainstream passenger vehicle segment through the launch of more sedans, MPVs and SUVs in the Chinese market. In addition to the "Fiat C-Medium" as well as a C-Class model and a D-Class model from Fiat, two SUVs from Chrysler will also be produced in the joint venture.

Additionally, Guangzhou-Fiat has recently finalized its board members, which has also swept out all the gloom brought by the earlier rumors on the joint venture. Reportedly, GAC' s Vice President Zeng Qinghong will serve as Chairman of Guangzhou-Fiat, and Meng Feixuan, Chairman of the Fiat (China) Business Co, Ltd. will be Vice Chairman of the joint venture.

Moreover, Zheng Xiancong, Vice President of Fiat (China) Global Purchasing Center, has been appointed as General Manager of the joint venture, and Jiang Ping, Deputy General Manager of GAC will become the joint venture's Executive Deputy Manager.

The joint venture is expected to be put into operation in 2011, with a designed capacity of 140,000 cars and 220,000 engines per year. By 2014, the ultimate annual capacity will be increased to 250,000 cars and 300,000 engines. In the near future, Guangzhou-Fiat will be able to manufacture any model of Fiat, including the Ferrari if there is need, Meng Feixuan said.