GAC-Fiat general manager Zheng Xiancong announced that the long-waited GAC-Fiat joint venture project has been formally inaugurated.
GAC-Fiat has decided to rebuild the Fiat brand and establish distribution channels, while putting up a new model each year. Before marketing C-Medium, GAC-Fiat plans to introduce several classic Fiat models such as the economically competitive Bravo which can best represents Fiat’s enthusiasm for its design, according to Zheng Xiancong.
Zheng Xiancong said that the word “Bravo” means “once again” in Italian, and added that they have formed a five-year development plan for Fiat to carve out a place for itself in the Chinese market for the second time.
GAC and Fiat previously signed a 50-50 joint venture agreement in July of last year according to which the first Linea model was slated to start production in 2011.
However, GAC-Fiat leadership has now chosen to enter China with the C-Medium using an entirely new platform, in a move to adjust to the constantly changing Chinese market conditions.
Zheng Xiancong explained that the C-Medium belongs in the middle to high end range of models and is expected to be launched in 2012. The design of the C-Medium destined for the Chinese market will be different from that of the European model. With a completely new global platform design, the C-Medium will come equipped with the world-leading 1.4L turbo charge engine and a dual dry-clutch transmission (DDCT).
An insider at GAC-Fiat revealed that Chrysler has confirmed its participation in their project, which may help Fiat make a breakthrough in China as Chrysler’s models are more suitable for the Chinese market than Fiat’s smaller models.
