FPT Shanghai R&D center construction completed

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Shanghai, November 14, 2008: (Gasgoo.com) Fiat Powertrain Technologies (FPT) completed construction of its first Chinese research and development centre -FPT(Shanghai) R&D Co.,Ltd, located in Jiading District of western Shanghai yesterday, auto industry website Gasgoo.com reported.

Built on an area of 36,000 square meters, the 22-million-euro center will focus on the development of both gasoline and diesel engines, and transmissions for cars and commercial vehicles.

By the end of next year when it officially starts operation, FPT Shanghai will employ 100 engineers, of which more then 90 percent will be local talents.

FPT has established 16 plants and 11 R&D centers in 9 countries worldwide with a major coverage in Europe. The Shanghai center is the first in Asia, a step forward for the company to fulfill its target of serving local demands.

Since it set foot on the Chinese market in 2007, the company has built two ventures including Saic Fiat Powertrain Hongyan Co in Chongqing, Haveco Automotive Transmission Co in Hangzhou, in addition to one trading company Iveo Motors of China Limited and the R&D center just completed, both located in Shanghai.

At the end of July this year FPI signed a memo on a light diesel engine project with Chongqing government. Under the deal, the company is projected to produce 100,000 units per year locally in the city and 70% of the production will be for exports.

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