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Fiat to source $1 billion in parts from India

Fiat to source $1 billion in parts from India

Posted Thursday, Sep 3, 2009, 1:44 pm in Employee News

Fiat Group Purchasing, a part of Fiat plans to source $1 billion of parts from India in 2010, a senior executive said on Thursday, Reuters reported.

“Our target is to source $1 billion in 2010,” Franco Cavallotti, Vice-president, International of Fiat Group Purchasing, told reporters at an industry conference. That would be about 5 percent of its global sourcing, the news service said.

Of the $1 billion, about $700 million would be for Fiat India Automobiles, its joint venture with Tata Motors and the remainder for exports, he told reporters.

The company planned to source $400 to $500 million of components from India in 2009, he said. Fiat Group Purchasing is the company that manages purchasing for the entire Fiat group, the story said. (Reuters)

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