{"id":282469,"date":"2011-02-25T23:22:32","date_gmt":"2011-02-25T23:22:32","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/25\/fiat-to-make-vehicles-in-russia\/"},"modified":"2011-02-25T23:22:32","modified_gmt":"2011-02-25T23:22:32","slug":"fiat-to-make-vehicles-in-russia","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/25\/fiat-to-make-vehicles-in-russia\/","title":{"rendered":"Fiat to make vehicles in Russia"},"content":{"rendered":"

\n \t\t
\n 25 February 2011<\/span>
\nLast updated at <\/span>18:22 ET<\/span>
\n<\/span><\/p>\n

Italian auto giant Fiat has announced it is to manufacture up to 300,000 vehicles a year in Russia, days after its deal with local manufacturer Sollers fell through.<\/p>\n

Fiat intends to produce saloons, SUVs and light commercial vehicles.<\/p>\n

“The project envisages the establishment of manufacturing capacity for up to 300,000 vehicles per year,” Fiat said in a statement.<\/p>\n

Fiat sent notification to the Russian industry ministry on Friday. <\/p>\n

Earlier in February Sollers said it would instead team up with US car maker Ford.<\/p>\n

Analysts have suggested that Fiat may have tried to drive too hard a bargain with Sollers as it sought to step up its presence in the booming Russian market.<\/p>\n

According to the Boston Consulting Group, Russia will be the sixth-largest global auto market by 2020, up from its current position of 10th largest.<\/p>\n

Fiat, which also produces tractors and trucks, recently announced that it returned to profit in 2010 with its Brazilian unit performing particularly well.<\/p>\n

The Turin-based firm also has a 25% stake in US manufacturer Chrysler, which it took when Chrysler was on the brink of collapse in 2009.<\/p>\n<\/p><\/div>\n<\/p>\n

Continue reading here:
\nFiat to make vehicles in Russia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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