Fiat, Tata in JV to manufacture cars

Fiat premium cars Grande Punto and Linea will be manufactured in Ranjangaon in Maharashtra under the joint venture between Fiat Group Automobiles and Tata Motors. Under the definitive agreement signed on Thursday, the JV will manufacture passenger cars, engines and transmissions for the Indian and overseas markets,
The assembly of the Fiat Palio has already commenced in Ranjangaon. The JV will also manufacture one of Tata’s next-generation vehicles

The plant will have an estimated output of 1,00,000 cars and 2,00,000 engines and transmissions. The overall investments will exceed 650 million euros. The two partners said in a joint press statement release that the distribution and service of Fiat branded cars in India will continue to be managed by Tata Motors. Th JV partners will have an equal representation on the board of directors. The MD of Tata Motors, Ravi Kant, will be the chairman of the JV and Mr Alfredo Altavilla chief executive officer of Fiat Powertrain Technologies (FPT) will be the vice-chairman.