Fiat SpA., the world-renowned Italian automotive major, is mulling over the idea of making India an export hub for its US-based unit Chrysler Group LLC. At present, the company is doing a feasibility study and evaluating the market, as part of its expansion plans for the Asia-Pacific region. The development has been confirmed by Enrico Atanasio, the outgoing Managing Director (MD) of Fiat's Indian operations. Nagesh A. Basavanhalli, would assume office in place of Atanasio as the MD of FIAT Group Automobiles India Private Limited and Chrysler India Automotive.
As per reports, the Italian auto maker is planning to assemble 600,000 units of Chrysler's products on the Indian turf, of which 90 per cent of the units would be exported overseas. Further, the Chrysler cars made in the country would be mostly shipped to several markets in the Asia-Pacific region. Fiat India is expected to begin export operations from the year 2015.
Speaking his mind on the the company's big plans for its Indian arm, Atanasio was quoted as saying, “ How much we sell in the first year of the new Fiat-Chrysler group will depend from customer acceptance to our products as we are designing new models to suit emerging markets like India. Based on that achievement of sales results could be quicker or slower, but we maintain ambitious plans for the Indian market.”
Fiat's interest in making India its export hub is a clear indication that the company is planning out expansion plans for the Asia-Pacific region. The country would also benefit from the same as more employment opportunities would come. Atanasio further added, “You see, we have two-digit market share in North America, a long established market leadership in Latin America and close to 10 per cent in Europe but in Asia Pacific, we have a very low share. We would obviously like to grow this share.”