FAW Car submits takeover plan for Fiat Sicily plant
Shanghai, March 26 (Gasgoo.com) According to the Wall Street Journal, China auto maker, FAW Car Co., has already submitted the takeover plan for the Fiat Sicily plant to the Italian government, aiming to assemble vehicles for export.
Reports say FAW will ship the parts to the Sicily plant for assembly and export the finished vehicles to China and Europe. The initial output of this plant will be 80,000 units and is likely to increase to 200,000 units in the future. FAW Car Co. is the second largest auto maker in China by sales volume.
In addition, the vehicles made by FAW will be using the Italian produced motors and transmission systems.
The company’s takeover plan is one of the sixteenth plans evaluated by the Italian government. Due to Fiat’s plan to close this plant before 2011, the government is now expecting a future arrangement to be made.
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