SAIC Iveco
SAIC IVECO is a recent company made up in J.V between the groups Italian FIAT IVECO and Chinese SAIC Motor Corporation for manufacture in China of the heavy range of the trucks Iveco.
Created on September 18th, 2006, this J.V seals the co-operation between the two groups and makes it possible Iveco to still reinforce its presence in Asia after the recent development of its Chinese subsidiary company NAVECO, specialized in the light range and average tonnage.
The creation of this company was made possible thanks to the possibility offered the abroads to acquire Chinese companies. Thus, Iveco subsidiary of the group FIAT S.p.A. and Saic Motor Corporation, one of the greatest Chinese automobile groups could create the company SAIC-IVECO Commercial Vehicle Investment Company which repurchased the manufacturer of Chinese heavy trucks Chongqing Aongyan Automotive.
A new factory with the Iveco standards will be built. The industrial activities envisage the assembly of heavy vehicles Iveco as well as the improvement of the Chongqing range with the contribution of Iveco technologies with an increase in the production capacity from 15.000 to 40.000 within two years.
Another agreement was made between the two groups, this one relates to the manufacture of engines of last generation for average and heavy heavy trucks on July 24th, 2006, between IVECO, FIAT Powertrain Technologies and SAIC Motor Corporation. The agreement envisages an industrial sphere for the manufacture of the three word families: F5, NAVE (4 and 6 cylinders) and Cursor 9.
SAIC-IVECO is a component of FIAT China.
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