Ferrari Motor Ferrari Challenge News


15 September 2006

Two new contracts for Fiat in China


Fiat Chairman Montezemolo made honorary Nanjing citizen (ANSA) - Nanjing, September 13 - Fiat this week will be signing two important accords in China as well as presenting the 'Pearl', a motor vehicle the Italian automaker has developed for the Chinese market, Fiat Chairman Luca Cordero di Montezemolo confirmed on Wednesday .

Montezemolo made his announcement on his arrival here as part of a top level political-economic mission to China being headed by Italian Premier Romano Prodi .

"This week Fiat will sign two important accords. And Pirelli and Finmeccanica will do likewise. These accords have been made possible thanks to the efforts of the government and sector associations like Confindustria," Montezemolo said .

Confindustria is the powerful industrial employers' association of which Montezemolo is currently chairman .

Fiat's first agreement will be signed on Thursday and is between the Nanjing Automobile Company (NAC) and Fiat's bus and truck unit Iveco .

Thursday will also see the presentation of the first 'Pearl', a new motor vehicle Fiat has produced here for the Chinese market with NAC. The second accord will be signed Monday between Fiat and the Shanghai Automobile Industry Corporation (SAIC), which already has a joint venture with Fiat's farm machine subsidiary New Holland to produce tractors in China .

Premier Prodi will be on hand for the signings and presentation as will Fiat CEO Sergio Marchionne .

While in Nanjing, Montezemolo received the city's honorary citizenship from the Chinese Communist Party's provincial secretary general in Jiangsu, Li Yuanchao, and the mayor, Jian Hongshen .

Montezemolo said he was proud of the 20-year history of collaboration between Fiat and the city and added that the honorary citizenship would encourage him to do even more to promote professional, economic and cultural relations with China, and Nanjing in particular .

During the ceremony, the Fiat chairman, who is also the Ferrari chief, gave the provincial official a piston from the car with which Ferrari won the 2004 Formula 1 championship .

In return, Montezemolo received a statue of a lion .

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