IVECO PLANS TO SET UP HEAVY-DUTY TRUCK JV WITH SAIC
AsiaInfo Services, December, 2005
AsiaInfo Services 12-02-2005 Iveco Plans to Set Up Heavy-Duty Truck JV with SAIC SHANGHAI, Dec 02, 2005 (SinoCast via COMTEX) -- Iveco, an affiliate of Italy's automaker Fiat Group, plans to set up a heavy-duty truck joint venture with Shanghai Automotive Industry Corporation (Group) (SAIC), a leading automaker in China, said Iveco chief executive Paolo Monferino. The two automakers are still at the initial stage of partnership and are negotiating over more details. They are likely to build a 50-50 joint venture, noted Paolo Monferino. Iveco has already had two joint ventures in Nanjing and Changzhou.
A foreign company shall only have two partners in China in accordance with the country's relevant regulations on the auto industry. Paolo Monferino said...
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