Monday, April 4, 2011

Fiat will come in its new plant in Russia?

Fiat will open a plant in Russia? It seems to be because the Italian company would invest about EUR 1.6 billion in Russia for the construction of a new plant capable of building 300 thousand cars a year. Fiat would have been in contact with the VEB, the Russian state bank, and the EBRD, the European Bank for Reconstruction and Development, to start the process.

According to some sources, Fiat has already signed an agreement. The reason for the willingness to move to Fiat in Russia is given by the swift growth of the Russian market, +77% in two months. There are also government incentives for development in the automotive industry that are coveted by many manufacturers.

These will be granted by foreign multinationals will make every effort to assemble 300 thousand vehicles annually in Russia from 2015. If the deal were to go into port Fiat may also seek local partners as TaGaz. Even Sergio Marchionne, Fiat Group CEO, said that there is an intention to move to Russia

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