Adding to its automotive empire, Fiat announced on Monday that it has signed a partnership with China’s Guangzhou Automobile Industry Group. The 50-50 joint venture will see Guangzhou building Fiat vehicles and engines in China by 2011.
Read the rest of this entry »

Italian automaker Fiat announced today that it is giving more than half of its workers extended holidays that will see 14 of its 20 home country factories shut down for two or four-week periods until mid-January. Fiat will temporarily lay off 48,000 of its 80,000 Italian workers in order to cope with a drastic drop off in new car demand across the globe.

Read the rest of this entry »