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Sina Automotive News Iveco and Shanghai Automotive Industry Corporation (Group) Corporation have signed a framework agreement to develop a long-term partnership in the field of commercial vehicles in China. Iveco has already started business in China through three joint ventures and employs about 5,500 people: Nanjing Iveco Co., Ltd. established with Yuejin Auto Group in 1996 to manufacture light commercial vehicles (Daily); 1996 established with Yuejin Automobile Group and Hangzhou Advance Gearbox Group Hangzhou Iveco Automotive Transmission Co., Ltd. produces transmissions; Changzhou Iveco Coach Co., Ltd., established in 2001 with the Changzhou Yangtze River Passenger Vehicle Group, produces city buses, coaches and chassis. The agreement marks another important step in strengthening the Fiat Group's business in China. The Fiat Group participates in 16 industrial and trade projects in China through its subsidiaries (Fiat, Iveco, Case New Holland, Magneti Marelli, Teksi, Comau, Ferrari and Maserati) with sales reaching ten Billion US dollars, employs more than 10,000 people.
View related topics: SAIC commercial vehicle expansion