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Osamu Suzuki, Chairman and CEO of Suzuki Motor Co. and Giancarlo Boschetti, President and CEO of Fiat S.p.A. signed a memorandum of understanding today which calls for the joint development of a new sport utility vehicle.
At the press conference which was held hours after the unveiling of the new Ignis only sketchy details were revealed about the new model which will be sold both as Suzuki and Fiat. — new Ignis introduced in Hungary.
It will be manufactured at Suzuki’s Esztergom plant, from Q4 2005. Production is scheduled to reach 60000 units by 2006 with 20000 Fiat badged and 40000 Suzuki badged models. The new SUV which will be based upon the new Suzuki A-segment platform and will be powered by unspecified petrol engines and 1.9-liter and 1.3-liter diesel units sourced from the Polish GM-Fiat powertrain facility. — Escudo SUV lineup.
The cars will be distributed in Europe only.
Magyar Suzuki Corp. is in an expansion mood: capacity is scheduled to reach 200,000 units by 2005. Additional investments in the value of 240 million Euros are planned and an extra staff of 250 will be added to the existing 1600 employee base. — Reno crossover vehicle.
