Chrysler 2009 Annual Report Download - page 335
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FIAT S.P.A.
STATUTORY
FINANCIAL
STATEMENTS AT
31 DECEMBER
2009
NOTES
334
32. Significant non-recurring transactions
Pursuant to the Consob Communication of 28 July 2006, in 2009 Fiat S.p.A. did not take part in any significant non-recurring transaction as defined in such
Communication.
33. Transactions resulting from unusual and/or abnormal operations
Pursuant to the Consob Communication of 28 July 2006, in 2009 Fiat S.p.A. did not take part in any unusual and/or abnormal operations as defined in that
Communication.
34. Subsequent Events
In February, Fiat S.p.A. and Sollers announced the establishment of a global alliance in the form of a joint venture for the production of passenger cars and
SUVs. The new JV is expected to reach total production capacity of up to 500,000 vehicles per year by 2016.
Nine new models (C & D segment and SUV) will be sold in the Russian market, six of which will be based on a new global Fiat-Chrysler platform. A minimum
of 10% of the vehicles will be produced for the export market. The Fiat/Sollers project will be based in Naberezhnye Chelny, located 1,000 km east of
Moscow in the Republic of Tatarstan.
Sollers’ current site in Naberezhnye Chelny will be expanded to include new production facilities and a technology park for component production.
The Russian Government is expected to provide support for the joint venture through subsidized long-term financing for the entire amount of investment
required, estimated at €2.4 billion.