Fiat Group Automobiles and Tata Motors have announced the signing of
the 50:50 joint venture to manufacture passenger cars, engines and
transmission with an overall investment of € 650 million for the Indian
and overseas markets. Out of the total investment, which will have an
equal proportion of debt and equity, only around 20-25% has been
brought in and the rest will be invested in a phased manner, a company
The name of the JV is expected to be announced at the end of this month.
The JV will have an equal representation of five members from the two partners. While Tata Motors MD Ravi Kant will be the chairman of the JV, Fiat Powertrain Technologies CEO and Fiat Group Automobiles senior VP, business development Alfredo Altavilla will be the vice-chairman. Rajeev Kapoor, brought in from Hero Honda has been appointed as the president and CEO of the JV and will be in charge of the operations of the new entity.
The JV will manufacture Fiat's B&C segment cars, Grande Punto and Linea, its 1.3 litre Multijet diesel engine, 1.2 and 1.4 litre fire gasoline engine and transmissions and one of Tata's next generation vehicles.
The Union Budget of 2021-22 which is also the first budget of the new decade is an historic one due to multiple reasons. It comes at a time when the country is still battling the un More
Helplinelaw can set up your session with quality and experienced lawyers to discuss and resolve your legal matters. You can avail consultation in form of sending questions, phone call or webchat discussion More