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Fiat, Guangzhou to invest 400 mln euros in China plant

Mon Jul 6, 2009 7:47am EDT

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MILAN, July 6 (Reuters) - Fiat (FIA.MI) and Guangzhou Automobile Industry Group will invest over 400 million euros in a joint venture plant in China to produce cars and motors, the Italian car maker said in a statement on Monday.

Fiat said the plant would produce 140,000 vehicles a year after the first phase of development and about 220,000 motors. Plant capacity could be expanded to 250,000 cars a year and 300,000 engines.

Fiat said the first of its models to be launched at the plant would be the Linea.

(Reporting by Jo Winterbottom)

((jo.winterbottom@thomsonreuters.com; +39 02 66129 442; Reuters messaging: jo.winterbottom.reuters.com@reuters.net))

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