Fiat, long a laggard in the fast-growing Chinese market, is to make cars and engines there from 2011 in a joint venture with Guangzhou Automobile Group.
The 50:50 agreement, signed in Rome on Monday, will see the partners invest more than €400m ($557m) and build a 700,000 sq m production plant in Changsha in Hunan province.
Fiat and GAC said the venture would have the capacity to produce 140,000 cars and 220,000 engines per year initially, but could later be expanded to produce as much as 250,000 cars and 300,000 engines annually.
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