Tata and Fiat have signed a new pact wherein the former’s financial arm, Tata Capital, will provide the investment for the Italian automaker to launch its Fiat Financial Services for the Indian market. This development has arrived despite the fact that both companies announced publicly that were splitting non production operations earlier this year.
“We hope to launch Fiat Financial Services India by April 2013. Tata Capital will be making the required investments on our behalf for this entity that will offer financing of Fiat vehicles for customers and offer our supply-chain customised financial solutions,” said Enrico Atanasio MD Fiat India.
Fiat had announced in April that they would go solo in the Indian market. Their expansion plan includes the setting up of 112 dealers across 126 cities as well as 39 service stations. In terms of products, Fiat will facelift the Punto and the Linea next year and eventually bring its high-performance Abarth range to the sub-continent.
Source: MydigitalFC
