Chery says Nanjing Fiat aint worth it
Published April 15th, 2007 in Chinese Car News, Chery Automobile and Nanjing Automobile Corporation.
Now that Chery and Nanjing Fiat have admitted to holding talks with each other (it was a bit of a secret relationship for a while) Chery seem to have come out and said they are willing to spend a maximum of 15 billion RMB for upto 50% of the Fiat-Nanjing autos joint venture agreement, however, Chery has said ‘It aint worth no 15 billion RMB, fool’ or Chinese words to that effect.
Chinese press are also saying that there is a chance that the agreement will go through - Chery will help Nanjing Fiat with production, but also - produce Alfa Romeo vehicles here in China. Alfa Romeos were always imported into China, and usually with a large price tag which probably doesn’t help their sales at all in China. China Car Times estimates Alfa Sales to be floating around the low hundreds per year. The plan being shown by the Chinese press is to make Alfa’s in China, and export them back to Europe.
As usual, China Car Times will keep you updated on the Chery Nanjing dealings.