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NINETY EIGHT REGENCY

Fiat plans to build new model in Serbia

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Fiat plans to build new model in Serbia

September 13, 2010 12:32 CET

BELGRADE (Bloomberg) -- Fiat S.p.A. will expand its Serbian investment over the next two years with plans to produce another vehicle in the Balkan country that should debut at the Geneva auto show in 2012, the Novosti newspaper reported, citing Deputy Prime Minister Mladjan Dinkic.

The new vehicle will seat as many as seven passengers and will be produced along with the Punto subcompact already assembled at the plant in Kragujevac in central Serbia, the newspaper said.

The expansion will bring Fiat investment to 944 million euros ($1.2 billion) from around 800 million euros previously, Dinkic was quoted as saying.

The government, which set up Fiat Srbija as a joint venture with the Italian carmaker two years ago, will also support expansion with own investment in infrastructure, Dinkic said, according to Novosti.

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100913/ANE/100919974/1198#ixzz0zQ8wctIX

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