Fiat to invest more in Indian automotive venture

Fiat India Automobiles has said that they are going to invest Rs. 2,341 crore more in their Indian venture.

This investment would be made at their Ranjangaon facility in Pune as the aim to further enhance their manufacturing capacity.

Fiat India Automobiles is joint venture collaboration between Fiat and Tata.

Tata Motors Managing Director Ravi Kant spoke on this new development: “This is a watershed project because for the first time between Tata and Fiat such a deal is done anywhere in the world.”

The two companies would invest Rs. 650 crore each. Rest of the money would come from debt. Fiat is scheduled to launch two new products Linea and Gande Punto this year in the Indian market.

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