Minister: Fiat to invest EUR 1bn

Economy Minister Mlađan Dinkić said that Fiat plans to invest about EUR 1bn in the Kragujevac automotive industry in 2012.

Izvor: Veèernje novosti

Sunday, 12.09.2010.

13:06

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Economy Minister Mladjan Dinkic said that Fiat plans to invest about EUR 1bn in the Kragujevac automotive industry in 2012. By the end of 2011, the production of a test series of a new model B Fiat vehicle would begin and the production capacities will be in between 200,000 and 300,000 cars per year. Minister: Fiat to invest EUR 1bn Dinkic said that the new investments in the car industry, planned investments in the construction industry, and the unfreezing of pensions and wages would lead to a growth in the gross domestic product (GDP) of at least four percent next year. He told daily Vecernje Novosti that the B class cars, five and seven seaters, will be mostly sold on the European market, but also in America, where Fiat bought Chrysler recently. “The test series, according to the documentation that was officially presented to us, will come out in late 2011, and after the promotion of the new model at the 2012 Auto Fair in Geneva, mass production of the model will begin,” Dinkic said. He said that the Italian company wants to invest EUR 888mn in the next two years, adding that Fiat has already invested about EUR 100mn in preparations for the Kragujevac factory. “The total investment of Fiat will be greater by about EUR 100mn than it was planned at first, and it will reach about EUR 944mn, because the new model from Kragujevac will be more modern, larger and more expensive. Essentially, this means that Fiat will be investing about EUR 600mn in Kragujevac directly,” he said.

Minister: Fiat to invest EUR 1bn

Dinkić said that the new investments in the car industry, planned investments in the construction industry, and the unfreezing of pensions and wages would lead to a growth in the gross domestic product (GDP) of at least four percent next year.

He told daily Večernje Novosti that the B class cars, five and seven seaters, will be mostly sold on the European market, but also in America, where Fiat bought Chrysler recently.

“The test series, according to the documentation that was officially presented to us, will come out in late 2011, and after the promotion of the new model at the 2012 Auto Fair in Geneva, mass production of the model will begin,” Dinkić said.

He said that the Italian company wants to invest EUR 888mn in the next two years, adding that Fiat has already invested about EUR 100mn in preparations for the Kragujevac factory.

“The total investment of Fiat will be greater by about EUR 100mn than it was planned at first, and it will reach about EUR 944mn, because the new model from Kragujevac will be more modern, larger and more expensive. Essentially, this means that Fiat will be investing about EUR 600mn in Kragujevac directly,” he said.

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