Fiat Sets Up Engine Plant In China.(Brief Article)

Fiat Group opened its solely-funded automobile engine and related high- tech component company in China, which is the second Fiat plant opened in the country this year. The Magneti Marelli Powertrain (Shanghai) Co. Ltd produces automobile engines and related auto components. The establishment of the key automobile component plant is a sign of the Italian auto producer's determined strategy for the China market, according to industry insiders.

The Huadong Teksid Automotive Foundry Co. Ltd, set up in Zhanjiang City, in east China's Jiangsu Province, is an $80 million joint venture between Fiat and two Chinese partners. It is the largest auto engine cylinder casting plant in China.

The new company, with $25 million of investment, covers 15,000 square meters of floor space in a bonded zone in the Pudong District of Shanghai. Its designed annual production capacity in the first phase is 150,000 auto throttles. This is expected to be expanded to 900,000 by 2003.

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