Chery Automobile said it has delayed a planned joint venture with Fiat because of the global downturn in car sales.
Chery CEO Yin Tongyao told reporters, "We have slowed down the JV project with Fiat and production will not start this year as previously planned, but we have not shelved the project."
Late last year, Chery and Chrysler officially parted ways on a proposed deal under which Chery was to supply affordable small cars to Chrysler in North America and other markets.
Now, Chrysler has proposed an alliance with Fiat, in which the Italian automaker will take an initial stake of 35 percent and will supply Chrysler with small cars and engines.
Fiat reportedly has pulled out of the Shanghai auto show, too.
Late last year, Chery and Chrysler officially parted ways on a proposed deal under which Chery was to supply affordable small cars to Chrysler in North America and other markets.
Now, Chrysler has proposed an alliance with Fiat, in which the Italian automaker will take an initial stake of 35 percent and will supply Chrysler with small cars and engines.
Fiat reportedly has pulled out of the Shanghai auto show, too.
Write By : Hu Lei
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