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SAIC Group intends to develop its commercial vehicle business and is negotiating with the Italian Fiat Group. The cooperation framework may be reached in September.
Recently, the reporter learned from SAIC (Shanghai Automotive Industry Group Corporation) that the SAIC Group intends to develop a commercial vehicle business and is negotiating with the Italian Fiat Group. The cooperation framework may be reached in September.
According to the source, SAIC Group has been in contact with the Fiat Group for a number of times and it intends to cooperate with Fiat Group’s commercial vehicle brand Iveco in order to expand the development of the commercial vehicle business. It is reported that last week, Chen Hong, president of SAIC Group, had stayed in Nanjing for a week and had been communicating with Iveco's relevant resident in China.
At present, the focus of the dispute between the two parties is that the Fiat Group wants to hold 51% of the new joint ventures, and the idea is that the Chinese and foreign joint ventures established by China must not have more than 50% of the shares, and it is also subject to the SAIC Group. Opposition.
"If the 50:50 consensus is reached on the proportion of shares, the joint venture project will advance very quickly," said SAIC insiders.
SAIC Group previously had many links with the Fiat Group on commercial vehicles. At the end of 2007, SAIC acquired Nanjing Automobile Group, and Nanjing Automobile previously had a joint venture with the Fiat Group, including Nanjing Iveco Automobile Co., Ltd., which mainly produces light passengers. In 2008, SAIC Group also joined Fiat Group and Chongqing Red. Rock joint venture to produce heavy trucks.
“Shangqi has a passenger car company. If a joint venture with Fiat’s commercial vehicles is successful, a commercial vehicle company will be established, while Nanjing’s Iveco company and Chongqing’s Hongyan heavy truck plant may become their subordinate factories.†People say.
For commercial vehicles, SAIC Motor has always been a weakness. With the full cooperation with Fiat, it can have a full range of products for commercial vehicles. Because Iveco has from heavy trucks, medium trucks, light trucks to passenger cars, chassis and other varieties.
At present, SAIC Group and Fiat Group's public relations departments are unaware of the matter.
October 17, 2024