News Digest.(Briefs)(Brief Article)

Ciferri, Luca; Frink, Lyle; Webb, Alysha

Fiat signs deal to enter Russia

Turin - Italy's Fiat Group plans to sell cars and trucks in the Russian market through an alliance with a local partner.

Fiat has signed a letter of intent with Company Basic Element (CBE) of Russia.

CBE could import and distribute Fiat vehicles using the dealer network of AvtoGAZ, CBE's automotive subsidiary which manufactures the Volga models.

Iveco 8140 diesel engines could be also imported to Russia to equip AvtoGAZ's light commercial vehicle, the Gazelle. If market reaction is positive, the two companies could manufacture Fiat cars ...