Fiat and Tata plan India venture
Tata Motors and Fiat are planning joint production of small cars and engines in India in the first manufacturing deal since the Indian and Italian carmakers formed an alliance last year.
The tie-up, expected to be signed off on Tuesday by the board of Tata and announced on Tuesday or on Wednesday, will mark a renewed attempt by Fiat to boost its position in the rapidly growing Indian car market.
It comes after Fiat announced deals in China, Russia and car finance on Monday and upgraded profit forecasts for the year as six-monthly car and van sales passed 1m for the first time since 2001.
The deal will give Tata access to modern engineering to support its growth plans, which were hit last year by the collapse of MG Rover, its British partner.
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