15.04.2003 FIAT OFFICIALLY CONFIRM JOINT SUV PROJECT WITH SUZUKI
| Giancarlo Boschetti, President
and Chief Executive Officer of Fiat Auto S.p.A., and Osamu Suzuki, Chairman
and Chief Executive Officer of Suzuki Motor Corporation, signed a memorandum
of understanding today which calls for the joint development of a new sport
utility vehicle (SUV).
At a press conference held in Budapest, Messrs. Boschetti and Suzuki stressed that the new vehicles will have a distinctive styling differentiation. The production of the new SUV vehicles, which will be based upon the new Suzuki A-Segment Platform, will begin in the second half of 2005 at the Magyar Suzuki Corporation facility in Estergom, near Budapest, Hungary. The new SUVs will be produced in 5-door version and will be powered by a diesel and gasoline engine. Fiat Auto and Suzuki will distribute the new SUV vehicles independently through their own dealership networks. No financial details on the venture was made available. |
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