By RIA Novosti,
St. Petersburg : Russian automaker Sollers, previously known as Severstal-Avto, and Italy’s Fiat Group will set up a joint venture to produce C class cars, a Sollers spokesman said Saturday.
The joint venture, with a capacity of up to 50,000 cars annually, will be launched in late 2008.
The joint venture will also undertake the distribution of other vehicles produced at Sollers plants – Russian and Korean crossovers, Fiat cars and light-duty trucks.
During the ongoing St. Petersburg International Economic Forum, the two companies are also expected to agree on establishing another joint venture to produce diesel engines for other Fiat models assembled in the Alabuga industrial production zone in Russia’s Volga Republic of Tatarstan.