Both Nanjing Auto and Fiat has made concessions after a long period of negotiation, news from Nanjing Fiat said yesterday. According to the outcome of the negotiation, Fiat will introduce two new models Punto and Linea which will be mass produced in China in 2008.
Fiat (China) Business Co., Ltd CEO Meng Feixuan said that before the mass production kicks in, these two models will be imported from overseas to cater to the Chinese market.
According to reports, Bravo, Linea and GrandPunto were on display at the Shanghai Auto Show in April this year. Linea is a new model based on Perla.
In recent years, due to poor management of Nanjing Fiat, its business in the Chinese market has been running into a deficit for several years. At that time, Fiat had also expressed its hope for Nanjing Automobile Company to increase investments in their cooperation. Now with Fiat giving Nanjing Automobile the production right of two of its models, one can conclude that both parties have finally reached a consession.
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