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· Registered
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Discussion Starter · #1 ·
In the Press today:

Italy's Fiat SpA (F.MI) is considering having vehicles made at a factory run by Taganrog Automobile Plant, or TagAZ, in southwestern Russia near the border with Ukraine, according to Russian news agency Interfax Friday.
Citing a TagAZ official at a hearing in a court of arbitration, Interfax reported that Fiat's U.S. unit Chrysler Group LLC could have the Grand Cherokee made for its Jeep brand at the factory.
Fiat had yet to take a final decision, it added.
Both Fiat and Chrysler declined to comment on the report. And officials at TagAZ couldn't be immediately reached for comment.
Fiat agreed last year to form a partnership with Russian state bank OAO Serbank (SBER.RS) to build Jeep vehicles in the country. Their first plant is to be set up in the St. Petersburg area.
Russia is a vital market because it promises to become the biggest in Europe, offering far higher growth rates than the region, several of whose countries like Italy have registered a collapse in sales because of the sovereign debt crisis and the subsequent recession.
In 2013, new vehicles sales in Russia are expected to grow by 5% to 3.1 million units, according to the International Organization of Motor Vehicle Manufacturers, or OICA.
This forecast compares with an expected 2% decline for Germany and a 5% fall for France.
Other European automakers have also entered into partnerships with local producers. France's PSA Peugeot-Citroen SA (UG.FR), for instance, is in talks with truck maker Zavod Imeni Likhachova, or ZIL, to assemble vehicles.

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· Plymouth Makes It
4,285 Posts
Russian people need jobs so the Russians plan to open factories to make stuff for their people. Where it will go in 20 years is anyones guess.
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