Fiat China says will not produce Ferrari in China

Shanghai, August 3 (Gasgoo.com) Fiat China recently cleared up the rumor that the Ferrari cars are likely to be produced in China, claiming that the Ferrari sports cars will not be produced outside its hometown Italy, and in China either, ifeng.com reported today.

According to Fiat China, Enzo Ferrari, founder of Ferrari SpA, once said to ensure the car's great purity of line, Ferrari will not be produced outside Italy. The rumor has thus gone away.

The early rumor came from Fiat China Chairman Meng Feixuan's word:" Guangzhou-Fiat will be able to manufacture any model," but the reporter learned after confirmation that the models Meng said were actually the Fiat brand models. Meanwhile, Meng explained that the first model to be produced in the Changsha-based JV would be a Fiat mid-class sedan,codenamed C-Medium, but not the rumored Fiat Grand Punto.

Reportedly, construction of the joint venture's Changsha base has started recently. During the first phase, the base will be able to produce 140,000 cars and 220,000 engines annually. The whole project costs a total investment of five billion yuan ($738 million) and covers an area of 700,000 square meters. By 2014, the ultimate capacity of the base will be increased to 250,000 cars and 300,000 engines.