Iveco develops China production
Wednesday 20 September 2006
http://www.fullyloaded.com.au/index.cfm?storyid=28535&cp=displaystory
Iveco Trucks has signed a joint venture agreement with Nanjing Automotive Corporation to to boost production of light to medium trucks and buses in China.
The JV called Naveco will purchase the commercial vehicle related business of the NAC controlled Yuejin Motor Corp.
Iveco and its parent Fiat Group have been operating for more than two decades in Nanjing, and the new Naveco will develop both the Iveco based and Chinese based light and medium commercial vehicles.
Iveco has been producing 20,000 Dailys a year through Naveco, while Yuejin has been producing 50,000 light to medium trucks and buses a year. (
Iveco has a separate JV producing heavy trucks with SIAC Motor Corp in Chongqing.)
Naveco (after taking over Yuejin) expects to manufacture 70,000 light and medium commercial vehicles a year, with the medium term goal of 100,000.
The current Yuejin range is undergoing 'an aggressive product improvement plan' through the introduction of Iveco technologies, including emission compliant engines, according to FIAT Group CEO Sergio Marchionne.
Naveco will produce more than 200 models in six segments from 3 to 6 tonnes, including light and medium buses, military offroad and special vehicle.
Yuejin produces 400 models, including passengers cars separately with Fiat, as well as light duty trucks and buses, and a host of small passenger/cargo and agricultural vehicles not the the Fiat/Iveco JVs. for
overall production of 180,000 vehicles a year.