Rus News Journal

Fiat moves ahead by the way of cooperation with AUTOVAZ

the Italian motor-car manufacturer of Fiat studies possibilities of investments into Open Society AUTOVAZ informs Reuters referring to the statement of the chief executive the Italian of company Serdzhio Marchionne.
Thus the Italian businessman specifies that something is required to the Russian partner bolshee, than financial investments. it is the company which needs improvement. That can be demanded from Fiat, should not be underestimated and it more than investments which can be necessary - has declared S.Marchionne.
head of Fiat has added that cooperation with AUTOVAZ opens the huge market, including development of the general platform. it will be a great advance. We consider it a question - has noted S.Marchionne.
in October of this year AUTOVAZ and Fiats have signed the memorandum of mutual understanding. In particular, the parties have agreed about cooperation in the field of engineering, technological processes, working out, manufacture and delivery of products, engines and other components. Also, according to the document, working groups for definition of possibilities of cooperation and specific conditions on short-term and long-term prospect will be created.
we will notice that a command Rosoboroneksporta thought of partnership with Fiat concern still in 2005., when only has come on AUTOVAZ. Then were not excluded even purchase of a part of actions of Fiat Auto for 1,5 - 2 mlrd dollars and creation on the basis of AUTOVAZ and Fiat uniform Russian - the Italian autoconsortium. According to experts, the Italian authorities have a great influence on Fiat that in turn does plans on creation of a uniform consortium with AUTOVAZ quite real.
this year Fiat has confirmed gravity of the intentions on an exit on the market of the Russian Federation. So, on September, 11th of this year Within the limits of the international motor show IAA - 2007 in Frankfurt of Fiat Group has signed the agreement from Open Society Severstal - the Car on creation in Russia of joint venture (joint venture), on manufacture of cars.
within the limits of the agreement, it is planned to construct new factory, on which in 2008. Release of the car of Fiat Linea will begin. Besides, the joint venture will carry out sales and marketing support in Russia all cars of Fiat. On conditions of the agreement, a share of the companies in the joint venture will make 50 % on 50 %.
Open Society AUTOVAZ (Tolyatti) it is registered on January, 5th 1993. In 2007. The company plans to let out 959 thousand 700 cars and assembly complete sets, including 125 thousand cars Lada Kalina, more than 210 thousand cars of model Lada Samara, 35 thousand three-door off-road cars Lada 44 and 8 thousand cars Lada 112 Coupe. Export of cars and autocomplete sets in 2007. It is planned to increase to 194 thousand units.
Fiat - the Italian automobile concern. Company net profit in I half-year 2007. Has grown more than twice - to 1 mlrd euro. A company gain for first half 2007. Has increased by 10,3 % and has made 28,86 mlrd euro, the operational profit has made 1,54 mlrd euro.