SAIC and Fiat negotiate commercial vehicle business cooperation
SAIC Group is exploring new opportunities in the commercial vehicle sector and is currently in discussions with the Italian Fiat Group. The potential cooperation framework could be finalized by September. According to insiders, SAIC has been engaging with Fiat on multiple occasions, aiming to partner with Fiat’s commercial vehicle brand, Iveco, to strengthen its presence in this market.
Chen Hong, President of SAIC Group, recently spent a week in Nanjing meeting with key representatives from Iveco in China. However, a major point of contention remains: Fiat is seeking a 51% stake in the proposed joint venture, which contradicts the current policy that limits foreign ownership to no more than 50%. SAIC reportedly opposes this arrangement.
“If a 50-50 equity split is agreed upon, the project could move forward swiftly,†said an insider from SAIC. This suggests that the success of the collaboration depends heavily on reaching a balanced ownership structure.
SAIC has had prior connections with Fiat in the commercial vehicle space. In 2007, SAIC acquired Nanjing Automobile Group, which had previously partnered with Fiat, including the establishment of Nanjing Iveco Automobile Co., Ltd., a joint venture focused on light commercial vehicles. In 2008, SAIC also joined forces with Fiat and Chongqing Hongyan to produce heavy trucks.
Industry observers believe that if the partnership with Fiat’s commercial vehicle division succeeds, SAIC could establish a dedicated commercial vehicle company. Existing subsidiaries like Nanjing Iveco and Chongqing Hongyan may then become part of this new entity.
For years, SAIC has lacked a strong commercial vehicle lineup. Partnering with Fiat would allow it to offer a full range of products, from heavy trucks to light vans and chassis, thanks to Iveco's diverse portfolio. This strategic move could significantly enhance SAIC’s competitiveness in the commercial vehicle market.
As of now, neither SAIC nor Fiat’s public relations departments have officially commented on the ongoing discussions.
The AGRODAHUA penumatic precision planter can complete tasks such as trenching, lateral fertilization, stubble breaking, sowing, soil cultivation, and compaction in one go. It is widely used for no Tillage, minimal tillage, and conventional cultivation of large and medium grain hole sowing crops such as corn, soybeans, sorghum, sunflowers, and sugar beets. The application of seed fertilizer and sowing effect is good, with a high emergence rate, and can achieve an efficient operation speed of 8-10km/hour.
Precision Planter,Corn Seeder,Sorghum Pneumatic Seeder
Shandong Dahua Machinery Co.,Ltd , https://www.agrodahua.com