Fiat’s
Iveco truck and bus unit is forming a bus-building joint venture with China’s
Changzhou Bus Co., Associated Press reported.

Iveco is investing 40 million euros ($US36 million) while Changzhou is providing
land, plants and other manufacturing assets.

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AP said that the new company would be equally owned by Iveco and Changzhou
and would produce minibuses, city buses and tour buses.

It added that Iveco is already involved in truck and gear-making operations
in China.

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