According to a report by gasgoo.com, the partnership is worth 4.3 billion yuan ($630 million) and is due to start operations sometime around 2011. Although specific details are not available for the time being, it seems the resulting agreement will lead to a production capacity of around 140,000 cars and 220,000 engines per year.
Now, let's review a bit the things that happened in the last few months. Although prior to January, it repeatedly denied negotiations with Chrysler, Fiat finally signed an agreement with the American automaker which brought it a 20 percent stake - that might be increased to as much as 51 percent when Chrysler gets out of Chapter 11.
Longly rumored to be interested in Opel, Fiat's officials ever once in a while stepped in the front of the media officials and denied every single speculation, pointing that it doesn't intend to purchase the German unit. After a few weeks, Sergio Marchionne, Fiat's CEO, changed his mind and confirmed the rumors, saying that the Italian manufacturer is indeed interested in Opel.
Other reports said Fiat also eyes Saab, the Swedish brand who's now seeking for outside investors and who might bite the dust unless the government keeps it alive. Fiat's involvement was one again denied but there might be some truth behind these rumors too.
Now Fiat is interesting in expanding its Chinese coverage by forming joint ventures with local companies. So, seriously now, will Fiat ever come to a stop?
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