The Italian car maker Fiat and Premier Limited (owned by Walchand Hirachand Group) are likely to join hands once again after more than 15 years of their separation. The tie-up between these two firms will be for sourcing a 1.3 liter multijet diesel engine, the same engine which Maruti sources from Fiat for its Ritz, Swift and SX4 models. Premier Ltd, is in the final talks to sing the pact with Fiat for this 1.3L multijet engine for its compact SUV (sports utility vehicle) Rio.
Many of you may not be aware of the fact that Premier’s Iconic car Padmini was a leading car in the Indian auto market for three long decades (from 1955 to 1985). The company is now looking forward to roll-out new diesel variant of its SUV in the highly competitive Indian car market.
In a statement given to ET, Chairman and Managing Director of Premier, Maitreya Doshi said, "We have been in talks with Fiat for quite some time. There are a couple of vehicles in Italy right now which is being tested; once the technical integration is ready, we will enter into a component supply agreement with Fiat."
