Fiat Group has said that its truck division, Iveco, has signed a framework agreement to develop a long-term partnership with China’s Shanghai Automotive Industry Corp. (SAIC).
The partnership with one of the largest Chinese automakers will focus on building trucks and other industrial vehicles, a Fiat spokesman told AP.
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The agreement is one of several that Italian companies have signed with Chinese counterparts during a high-profile official visit by Italian President Carlo Azeglio Ciampi and a delegation of entrepreneurs, including Luca Cordero di Montezemolo, chairman of Italy’s Confindustria business lobby and the Fiat group, AP said.
No further details were available.
Iveco already has a number of joint ventures in China, including one making light commercial vehicles such as the Daily truck, one making transmissions and another making passenger buses.
