Fiat sees at least 100,000 Jeeps made in China in 2014
(Reuters) - Fiat (FIA.MI) and its U.S. unit Chrysler expect to roll out at least 100,000 Jeeps in China when production starts in 2014 as they seek to catch up with rivals in the world's biggest car market.
Output could double, the Italian carmaker's Chief Executive Sergio Marchionne, without giving a precise timeframe.
Chrysler, in which Fiat has a 58.5 percent stake, said on Tuesday it had agreed to make Jeeps in China with Guangzhou Automobile Group (601238.SS).
Fiat is trying to offset a slump in European sales by targeting fast growing markets in Asia and Latin America. The Italian firm and Chrysler lag far behind other foreign carmakers in China, where consumers bought 19.3 million cars last year.
"We expect production of around 100,000 Jeeps per year which is expandable to 200,000," Marchionne, who is also CEO of Chrysler, said on the sidelines of a conference, adding production could start in 18 months. (Continues)
PolitiFact’s original “fact check” on the matter:
[Mitt Romney] Says Barack Obama “sold Chrysler to Italians who are going to build Jeeps in China” at the cost of American jobs.Related