Fiat has submitted a plan to the Russian government to build as many as 300,000 cars a year in the country, after last week ending talks on a EUR2.3bn (US$3.3bn) deal with OAO Sollers.
“The product plan will be principally based on production of C and D segment cars, SUVs and light commercial vehicles,” Fiat told the Korea Herald. “The Fiat and Jeep brands will be the mainstays of the project.”
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Sollers signed an agreement with Ford after talks with Fiat ended.
Fiat is targeting fast-growing economies to counter losses in Europe, its biggest market.
Russia may become the world’s sixth-largest auto market in 2020, with 4m deliveries a year, the Boston Consulting Group said in a report earlier this month. The nation is now the world’s 10th-largest car market, with 1.9m annual sales, according to the consulting firm.
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