Fiat To Make Major Investment In New Models, Power Train.(Brief Article)(Statistical Data Included)

Fiat Auto SpA's automotive unit said it plans to invest 14 billion euros ($11.9 billion) between 2001 and 2005 to launch 19 new car models and develop a power train.

Chief executive Roberto Testore said 4.5 billion euros ($3.8 billion) of the investment was going toward the FiatGeneral Motors power train joint venture. Last year, Fiat and GM formed a strategic alliance in which GM bought 20 percent of Fiat Auto.

Fiat said it is aiming to launch the new sporty Alfa Romeo Spider in the U.S. market as early as 2005, Testore told a news conference in Milan outlining Fiat's strategy.

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