Fiat plans bus joint venture

PUBLISHED : Thursday, 02 April, 1998, 12:00am
UPDATED : Thursday, 02 April, 1998, 12:00am


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Iveco, the Fiat group's light truck division, plans a new joint venture in China, investing 250 billion lire (about HK$1.05 billion) to 300 billion lire, managing director Giancarlo Boschetto was quoted as saying. He told business daily Il Sole 24 Ore that the new joint venture would build a bus factory with the Changzhou Coangjiang Bus Group. The 50-50 held company would produce 'at least 8,000 buses a year' when it was fully operational, Mr Boschetto said.