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Fiat looks to India’s TATA for finance
January 24, 2013, 10:44 am


Tata Group Chairman Ratan Tata (l), and Fiat CEO Sergio Marchionne. [AP]

Fiat Group Automobiles India is in talks with Tata Capital for financing its range of cars in the country from April, a top official said.

“In terms of financial services, there is an agreement we have with Tata in Europe. Actually, we are providing financial services for Jaguar Landrover in Europe,” Fiat Group Automobiles India Managing Director Enrico Atanasio said.

“There is a kind of reciprocal agreement for India (market), and we are going to use one of their companies, Tata (Motor) Finance or Tata Capital,” added Atanasio.

Fiat Group Automobiles India is the Indian arm of Italian automobile major Fiat.

The company is looking to have 65 outlets in India by the end of March 2013.

Asked when the financial services division is likely to be rolled out, he said, “We are planning to do that as part of our announcement in April. We are working on that (Tata Capital to handle financial services for Fiat Group India)”.

Fiat and Tata last year agreed that in order to further develop the Fiat brand in India, management control of Fiat’s commercial and distribution activities will be handled by the Indian arm of Fiat Group.

Source: Agencies


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