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Old 05-22-2009, 08:50 AM   #1
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Default Fiat and Guangzhou Auto JV

Fiat, Guangzhou Auto agree on car venture.

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May 22, 2009 - Citing Guangzhou Automobile's (GAIC) general manager Zeng Qinghong, the Shanghai Securities News says Fiat and GAIC have entered into an agreement to set up a car manufacturing joint venture in China.

This venture, however, is still pending government approval. Zeng would not disclose further information concerning the size of this new JV. Local media reports put the necessary investment in the venture at approximately Yuan 4.3bn (US$627.8m).

GAIC has also acquired one-third of a Fiat transmission plant in Hangzhou in eastern China, Reuters has said. Financial details concerning this deal, which took place earlier in the week, are yet awaited.

According to the report, Zeng has also put to rest speculation that GAIC was seeking a back-door listing via Shanghai-listed Hunan Changfeng Motor, in which the OEM has picked up a 29% stake. "Changfeng Auto is a listed company and a very good fund raising platform. But Guangzhou Auto is proceeding with our own plan to go public currently," the newswire quotes Zeng as saying.

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May 22, 2009 - Fiat has signed an agreement to set up a car manufacturing venture with China's Guangzhou Automobile Industry Group, the Shanghai Securities News said on Friday, citing the Chinese automaker's general manager.

Zeng Qinghong did not disclose the size of the venture, which is still pending government approval.

The same newspaper said on Thursday the Fiat-Guangzhou Auto project would need an investment of 4.27 billion yuan ($625.7 million), citing a government document.

Guangzhou Auto, a partner of Toyota Motor and Honda Motor, sealed a deal on Thursday to take a 29 percent stake in Hunan Changfeng Motor Co (600991.SS), the newspaper said, confirming an earlier Reuters report.

It will buy the shares from Changfeng's state parent for around 1.05 billion yuan, becoming the largest shareholder of the sport utility vehicle specialist.

Under the agreement, Guangzhou Auto will invest 10 billion in Hunan province, the home base of Changfeng, in the next 5 years, increasing their joint vehicle production capacity to 500,000 units per year, it said.

Changfeng's current vehicle production capacity is 100,000 units.

Earlier in the week, Guangzhou Auto also acquired one-third of a Fiat transmisson plant in the eastern Chinese city of Hangzhou, Zeng was quoted as saying. It did not disclose financial details of the deal.

Zeng also dismissed a local media report claiming Guangzhou Auto would seek a back-door listing via Changfeng.

"Changfeng Auto is a listed company and a very good fund raising platform. But Guangzhou Auto is proceeding with our own plan to go public currently," Zeng was cited as saying.

Zeng told Reuters in April that both Shanghai and Hong Kong were ideal listing venues and the automaker had already submitted its application to China's securities regulator.
sources: automotiveworld.com and gasgoo.com
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Old 05-25-2009, 10:52 AM   #2
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Default Re: Fiat and Guangzhou Auto JV

Is Fiat 500 currently sold in China?
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Old 05-25-2009, 02:55 PM   #3
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Default Re: Fiat and Guangzhou Auto JV

Not yet.
Fiat is currently selling Bravo, Punto and Linea in China.
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Old 06-03-2009, 05:20 AM   #4
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Fiat to move into Changfeng factory

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The recent JV between Guangzhou Auto and Fiat is set to find it’s home in Changfeng’s factories, which Guangzhou recently received via their Changfeng-Guangzhou merger.

Fiat plans to invest over 4 billion RMB into their latest China venture, and by 2011 plans to be producing cars. The venture aims to produce 140000 cars per year, and 220000 engines once the factories come online.

The JV with Chery to produce cars in Anhui province is still under agreement, but for reasons that are currently unknown, nothing has come of the agreement despite it being signed two years ago. It was rumored that Chery and Fiat would produce the Alfa Romeo range in China, but now it seems that plans have been postponed for now.
source: China Car Times
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Old 06-03-2009, 08:22 AM   #5
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Default Re: Fiat and Guangzhou Auto JV

And what about the Roewe 250 with the body of the Fiat Grande Punto?



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Old 06-03-2009, 09:16 AM   #6
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Default Re: Fiat and Guangzhou Auto JV

Well it was never confirmed that Roewe will build badge-engineered Grande Punto. Most Internet sources speculate that Roewe's Punto with disguised nose is just mule to test various components of its upcoming small car (Roewe 250).

It's hardly for me to believe that FIAT would sign agreement with 3 Chinese manufacturers (don't forget Chery).

If those speculations are true, than this is the only example (at least that I'm aware of) that a company is using another manufacturer’s body shell for testing.
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Old 06-05-2009, 09:06 AM   #7
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Guangzhou Auto to build Fiat Linea in Guangzhou.

June 5, 2009
Guangzhou Automobile Industry Group and Fiat's joint venture will begin to build Fiat Linea at Panyu district of Guangzhou, Guangdong province, once it receives approval from government regulatory bodies, according to the Guangzhou-based Nanfang Daily.

Citing a notice from China's Ministry of Environmental Protection (MEP) published from May 31 to June 6, the newspaper said the car production joint venture will cost a total investment of 4.27 billion yuan ($625.7 million), with 70 million yuan of the budget being used in the environmental protection devices.

The venture, to be located in Hualong Town, Panyu district of Guangzhou, would produce 140,000 automobiles and 220,000 engines annually.

A PR executive for Fiat China said on Thursday that details including finally location of the plant are still awaiting government approvals. MEP is just one part of that procedure.

In mid May Guangzhou Auto acquired one-third of a Fiat transmission plant in the eastern Chinese city of Hangzhou.
source: Gasgoo.com
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Old 06-06-2009, 12:47 AM   #8
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Default Re: Fiat and Guangzhou Auto JV

The Fiat Linea is now to be made in China, thanks to the recent deal between Guangzhou and Fiat. The venture and the new plant is set to manufacture over 140,000 cars a year. It will be fully online in 2014.

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Old 07-03-2009, 11:28 AM   #9
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Work on Fiat factory to begin in August.


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July 3, 2009
Fiat may have been given a bloody nose by the Chinese car market once before, but this is not putting them off from having another stab at the Chinese market place, this time with a new joint venture partner.

Fiat and Guangzhou Autos have been getting quite cozy with each other over the past 18 months with various technology trades happening, which has culminated in the latest joint venture. Fiat kept Guangzhou onside by selling them Fiat and Alpha Romeo platforms, on which Guangzhou Auto plan to build their small car range. The deal then lead to the JV being formed.

The new factory is expected to be able to produce 300,000 cars per year and will be producing 4 branded cars at the same time, (Fiat, Alfa Romeo, Changfeng, and Guangzhou) The new factory will be located in Changsha city, Hunan province, with work commening in August.
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Construction at Fiat's car production venture with Guangzhou Auto is scheduled to begin in August. The facility, with annual capacity of 140,000 cars and 220,000 engines and based in the central Chinese city of Changsha, still requires government approval, local media reported today.

Fiat Auto is also planning to introduce its low-emission engine to China for local production to equip its China-made compact sedans. The two sides of the venture have denied reports that their new project will use the existing facility and capacity of Changfeng Motor -- Guangzhou Auto's newly-acquired subsidiary in Changsha.

Fiat and Guangzhou Auto have been cooperating since the beginning of last year, with various technology trades happening, which has culminated in the latest joint venture. Guangzhou Auto has secured the Fiat and Alpha Romeo platforms to build its small car range. The deal then led to the JV project in Changsha.

The new factory is expected to produce 140,000 sedans of the Linea series per year. With a joint investment of 4.27 billion yuan ($625.2 million), the Changsha-based Fiat project will also have an annual output of 220,000 low-emission engines. The facility still requires the government's regulatory approval.

Earlier last month, Guangzhou Auto decided to move its planned Fiat venture to Changsha, capital of Hunan province, from Panyu, Guangdong province, southern China. The Panyu production base will be only making the Chinese carmaker's self-developed brands.
sources: China Car Times and Gasgoo
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Old 07-07-2009, 11:58 AM   #10
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Fiat signs agreement with China's GAC.

July 6, 2009
Fiat Group CEO Sergio Marchionne signed an agreement today with state-owned Guangzhou Automobile Group Co. to produce cars in a joint venture beginning in the second half of 2011 as Fiat seeks to expand its position in the growing Chinese market.

Marchionne signed the deal with GAC Group chairman Zhang Fangyou in the presence of Premier Silvio Berlusconi and Chinese President Hu Jintao, who were meeting ahead of the Group of Eight summit, which begins Wednesday in the central Italian city of L'Aquila.

The joint venture plans to produce the Linea sedan as well as two engines in a new 700,000-square meter plant to be built in Changsha, the capital of Hunan province and a major road and rail hub 600 kilometers (400 miles) north of Guangzhou, Fiat said in a statement.

Investment in the joint venture will be euro400 million ($556 million), Fiat said in a statement, noting that the industrial project is eligible to receive support from the Chinese government under a new development plan to promote investment in six central China provinces.

The plant initially will produce 140,000 cars and 220,000 engines a year, with the potential to increase to a maximum 250,000 cars and 300,000 engines a year, Fiat said.

Fiat has recently taken a 20-percent stake in the U.S. automaker Chrysler, as Marchionne seeks to create a global auto powerhouse.

Fiat and GAC have been collaborating since 1998 on technology for development of the first vehicle to be produced under the GAC brand.

http://www.latimes.com/business/la-f...,6122256.story
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