Chrysler LLC, North America and Fiat Group of company have decided to enter into a joint venture as declared by Fiat to build a car at Fiat’s Mirafiori plant in Turin, Italy. A U.S. platform would be brought into Turin by Fiat and then cars of the larger segment passenger cars and SUVs for the Jeep and Alfa Romeo brands would be built utilizing this platform.
A Fiat statement says “These will be flagship models for Jeep and Alfa Romeo, the most international brands of the two Groups with significant development potential globally.”
The vehicles that would be built at this site are meant mainly for the international market outside of the European Union. North America market would be the prime target of the car to come. Probability is high that the car would be in the market in the fourth quarter of 2012.
Fiat adds “Bringing this new platform to Mirafiori will result in potential production of up to more than 1,000 vehicles per day or some 250,000 to 280,000 vehicles per year, resulting in full utilization of the current workforce and opening the way for potential new jobs.”
The project is likely to cost more than a €1 billion which would be shared between Fiat and Chrysler in proportion to volumes produced for each brand.
The press release issued by Fiat on this project states “This is an extraordinary opportunity for Italian industry to produce cars of quality and prestige. Mirafiori has all the elements necessary to achieve a leap of quality and become a world class plant, producing cars for Europe, North America and other markets around the world.”