Nanjing Fiat to break upScources from Nanjing Fiat say that the two parties still have not reached agreement on adding investment and that they will soon break up. Nanjing Fiat will keep using the Fiat brand until 2009. During this period of time, the two parties will deal with the joint venture’s assets and follow-up affairs. The Fiat and Chery Motors will launch a joint venture to produce hydraulic components for Magneti Marelli, a subsidiary parts manufacture of Fiat. The two parties reaches the Memorandum of Understanding on September 7. It has been agreed that the joint venture will be established at the beginning of 2008 and Magneti Marelli will bear most of the investment.
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