Agreement signed between Fiat Group Automobiles, Chrysler Group International and the Chinese Guangzhou Automobile Group Co. (Gac): the three groups signed a Framework Agreement to expand their cooperation in the production and sale of passenger cars in China.
According to the agreement, as stated in a note released by Fiat, the next brand to be localized by the joint venture between Gac and Lingotto is Chrysler Group's Jeep (production in China for the Chinese market only). The jv currently produces the Fiat Viaggio and distributes models such as the Fiat 500, the Freemont and the Bravo in China.
This morning, about an hour after the opening of Piazza Affari, the Fiat share dropped 2%.
