Fiat Chrysler Automobiles To Invest About $280 Mln In Indian Joint Venture

(RTTNews) - Fiat Chrysler Automobiles N.V. (FCAU) said that it plans to invest about $280 million in its manufacturing joint venture, Fiat India Automobiles Private Limited, with Tata Motors Limited.

The investment in the manufacturing facility in Ranjangaon, India, will support the production of a new Jeep vehicle and is expected to begin production in the second quarter of 2017.

The company noted that Ranjangaon will be the fourth plant outside of the U.S. for volume production of Jeep vehicles. Jeep branded vehicles are also currently built in Italy and Brazil, and will begin production in China in the fourth quarter of 2015.