GAC Fiat Will Expand Portfolio, Localize Jeep Manufacturing in China
Jeep is heading out east! This past weekend, Fiat Group Automobiles S.p.A., Chrysler Group International LLC, and Guangzhou Automobile Group Co., Ltd. announced that they will expand their joint venture partnership (GAC Fiat) in order to accommodate localized production of three new Jeep models for China.
“Today’s announcement represents the next chapter in the proper utilization and expansion on a global scale of the Jeep brand,” said Sergio Marchionne, CEO of Fiat S.p.A. and Chairman and CEO of Chrysler Group LLC. “Equally important is our continued development in the Chinese market with an established and respected partner such as Guangzhou Automobile Group.”
The triumvirate’s venture, known as GAC Fiat, will build three new Jeep models within the country in order to diversify the brand’s portfolio in what has become the world’s largest new car marketplace. It’s said that at least one of these models could be a Jeep that is exclusive to China altogether.
The manufacturing brand will be established in Guangzhou, and production is expected to begin sometime in late 2015.
“The world-noted SUV brand Jeep being introduced into GAC Fiat will bring the cooperation between GAC and Fiat-Chrysler to a new phase,” said GAC Group Chairman Zhang Fangyou. “It will enhance the sustainable development of the JV, and will surely bring premium experiences of driving and services to the Chinese customers.”
Jeep experienced 29 percent brand growth in China in 2013, making the country the brand’s second-largest market apart from the United States. Nearly 60,000 Jeeps sold in China last year.
For more information on what GAC Fiat has in store, as well as the latest news from Beijing, check back in with us here at The News Wheel!