Monday,
August 06, 2007
Italy's Fiat to use Chinese Engines from Chery
The
ANNOTICO Report
I
like the fact that the import of Chery engines will
cut Fiat costs with a quality engine (sourced from BMW), but I hate to see Italian
jobs being lost overseas.
Chery Automobile Co. is China's eighth-largest car maker, a
privately-owned Chinese car manufacturer, that produces the QQ, a little city
car that sells for less than USD 6,000, and sold 90,000 vehicles last year
including 8,000 exports, mostly to Malaysia and Iran. Chery
has already introduced the Oriental Son and Fengyun
models.
Chery has unveiled its new A21 sedan designed with
the help of Pininfarina, that could be the car that kicks of Chery's
Report: Chinese Automaker Chery to Supply Engines to
|
The Associated Press August 6, 2007 |
|
|
Chery will supply Fiat with
100,000 engines a year, the Xinhua News Agency
reported.
The agreement by Chery, which is eager to expand abroad, comes just one
month after the company sealed a deal to make small cars for the new Chrysler
LLC.
Chery and Fiat signed a
memorandum of understanding eight months ago, and auto industry media had
reported that an engine supply deal was imminent.
"The
agreement means that Fiat, who had been testing Chery's
engines during the past year, have recognized the
technologies and quality of the engines developed by Chery,"
Xinhua quoted Chery Deputy
General Manager Zhou Biren as saying.
Zhou said the two
companies are "exploring possibilities" on other cooperation, Xinhua reported, without giving details.
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