Iconic Fiat Plant Sold To Chery
Fiat‘s iconic assembly plant on the Island of Sicily closed on November 24th and has been taken over by an investor.
The plant, which opened in 1970 and manufactured primarily Fiat 500s was sold for a token single euro. Massimo Di Risio, one of Italy’s largest car dealers, is that investor. He plans to re-open the plant as early as late next year to assemble four Chery models.
Thus far, his efforts to rebadge the Chinese vehicles under his DR brand have been unsuccessful, but he hopes that taking the plant over will help change that.
His goal, despite financial problems caused by the initial failure of his rebadged Chery project, is to produce 65,000 cars per year. Di Risio currently owns an assembly plant north of Naples where he manufactures the DR5 (Chery Tiggos), the DR1 (Chery M1) and the DR2 (Chery A1) that will now come from his new plant.
[Source: Left Lane News]