Fiat to produce first test car in Serbia by end-2011.

By bne IntelliNews December 20, 2010
The first test vehicle will be produced in Fiat's Kragujevac plant by the end of 2011, Giovanni De Filippis, managing board chairman at Fiat Automobili Srbija (FAS), said as cited by Tanjug. The reconstruction of the Kragujevac plant will be finished in H1/2011. The serial production of a new Fiat model will start in the spring of 2012, the executive also said. The new Fiat model will be produced only in the Serbian plant, De Filippis said. De Filippis expressed his satisfaction with the fact that FAS has secured employment for 1,000 workers amid the economic crisis. He added that FAS exported 3,500 vehicles in the first seven months of 2010, mainly to North Africa. On a related note, economy minister Mladjan Dinkic said that Fiat has to contribute a further EUR 100mn to the capital of FAS in 2011 and 2012, Beta news agency reported. Dinkic noted that Fiat has so far invested EUR 100mn in the capital of its joint venture with Serbia. The government has pledged to provide subsidies for FAS once the Italian car maker invests the remainder of the required EUR 200mn and employs over 1,000 workers.

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