Fiat

cated at Ranjangaon in the Pune District of Maharashtra. The definitive agreement of the Joint Venture was signed on October 19th 2007. The board of directors for this company comprises of five nominees each from Fiat and Tata.

The state-of -the-art facility at Ranjangaon, will have an installed capacity to produce 100,000 cars and 200,000 engines, besides aggregates and components. The company plans to double the production capacity for both car units and engines in the next few years. This facility is currently manufacturing the Palio Stile 1.1 and 1.6 models, as well as premium Fiat cars such as the Grande Punto and Linea. The facility will also manufacture Fiat’s successful 1.3 litre Multijet diesel engines and 1.2 & 1.4 litre Fire gasoline engine. Apart from Fiat cars, the facility will also produce Tata passenger and next generation cars with investment exceeding € 650 Million. The plant is expected to provide direct and indirect employment to more than 4,000 people.

Fiat, which holds a 50% stake in the Company, also owns and controls five internationally renowned brands:- Fiat Automobiles, Alfa Romeo Automobiles, Lancia Automobiles, Abarth and Fiat Light Commercial Vehicles, the makers of renowned cars such as the Ferrari, Maserati, Alfa Romeo and Lancia besides the Fiat branded cars.

Tata Motors Limited, the other partner to the Joint Venture, is the largest automobile company in India, with revenues of Rs. 32,426 crores (USD 7.2 billion) in 2006-07. It is the leader in commercial vehicles in every segment and the second largest in the passenger vehicles market with winning products in the compact, mid-size car and utility vehicle segments. The company is the world’s fifth largest medium and heavy commercial vehicle manufacturer and the world’s second largest medium and heavy bus manufacturer.