Chrysler 1999 Annual Report Download - page 39

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38
model of which 3.3 million units have been produced since
its introduction in 1993. Important innovations concerning
the Lancia brand included the launch of the Lybra, a model
designed to provide outstanding ride comfort. Alfa Romeo
also expanded its range by offering a 145 and a 146 powered
by a JTD direct-injection turbodiesel engine, and a new
version of the 156. This model, which is called 2.0
Selespeed, is the first intermediate car equipped with
a sequential gearbox with steering-wheel controls.
The most important event of 1999 in the field of technological
innovation was the introduction of the Ecobasic. This concept
vehicle, which will be used to develop the compact car of the
future, features a wealth of innovative solutions that will find
concrete applications in the very near future.
Other noteworthy products include Ecodriver, an innovative
propulsion system that offers fuel savings of about 30%,
and Multijet, an evolution of the JTD system that combines a
reduction of 30% to 40% in emissions with a 7% improvement
in performance.
In addition, the Sector completed the development of the
Fiat Multipla Hybrid Power, a car that embodies leading edge
technology in the field of vehicles with minimum environmental
impact.
GROWTH STRATEGIES
During 1999, Fiat Auto continued to pursue the globalization
of its activities. In particular:
❚In China, it acquired the interest held by Lion, a Malaysian
group, in a joint venture with the Yuejin Motor Company.
It then established Jiangsu Nanya Auto, which has been
licensed to manufacture passenger vehicles.
❚In Egypt, it established Fiat Auto Egypt Industrial with the
Seoudy Group. This joint venture, in which the Sector holds
a 51% interest, will manufacture and distribute world car
models.
❚In India, it launched the Siena, which joined the Uno in
the local product line.
❚In Turkey, where the market has become extremely
competitive, the Palio posted gratifying results. Production
of the Brava and Marea started a few months ago.
❚In Russia, the Sector’s investment programs have been
delayed by the continuation of the economic crisis.
The consolidated capital expenditures of the Automobile Sector
totaled 1,464 million euros (1,373 million euros in 1998). They
were earmarked primarily for strategic product investments.
Research and development outlays amounted to 711 million
euros in 1999, up from 608 million euros the year before.