Fiat Auto president and chief executive officer Giancarlo Boschetti, of S.p.A., and Suzuki Motor Corporation chairman and CEO Osamu Suzuki on Thursday signed a memorandum of understanding to jointly develop a new sport utility vehicle (SUV).
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At a press conference in Budapest, Boschetti and Suzuki stressed that the new vehicles will be distinctively styled.
The new SUVs will be based on Suzuki’s new A-segment platform and production will begin in the second half of 2005 at the Magyar Suzuki Corporation facility in Estergom, near Budapest, Hungary.
The five-door models will have both diesel and petrol engines. Fiat Auto and Suzuki will distribute the SUVs independently through their own dealership networks.
No financial details were disclosed.
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By GlobalDataSuzuki produces Chevrolet-badged derivatives of its Vitara/Escudo SUV for General Motors at plants in Canada and Brazil and has also jointly developed a small minivan with GM’s Opel unit for sale in Europe. Opel’s version is made in Poland while the Suzuki model is built at the Magyar plant in Hungary.
