Italian automaker will create new company to sell cars in India.
May 2, 2012
by The Canadian Press
MILAN, Italy: Italian automaker Fiat SpA says it will take over the distribution of its cars in India as it reshapes its joint venture with the Tata motor company.
Fiat, which controls US automaker Chrysler, says it will create a new company to sell cars in India, and encourage the 178 existing Fiat-franchised Tata dealers in 129 cities to be the basis of the future network.
Fiat and Tata have had a joint venture since 2006 that has produced some 190,000 cars under the Fiat and Tata brands and 337,000 powertrains for the Indian domestic and export markets.
The joint venture also produces diesel engines for Maruti Suzuki.
©The Canadian Press