"Do not underestimate the Chinese car company"

(AP) - In many jokes or board meetings in the automobile industry, China has frequently become the subject ridicule. However, according to Sergio Marchionne, CEO of Fiat and Chrysler, it's unwise to underestimate the Chinese automobile manufacturer. Mr. Sergio Marchionne, CEO of both Fiat and Chrysler Mr. Marchionne reiterated that before, Japanese automakers and Korea also has in place like China today. "The only deceive himself about the new disregard for the Chinese car company, and if so will pay a heavy price. Chinese automobile industry has recently developed a strong and has some modern technology today. Do not underestimate them. We can not prepare to face competition from China, "Marchionne told an automotive conference in Michigan , USA. Mr. Marchionne pointed out that "currently, the Chinese automobile production mainly to serve the domestic market, assuming they only export 10% of the risk they compete with us on yard is pretty big. " He has reason to worry. Fiat is trying to win first place in Brazil, the market's No. 4 car truomg world and is the target of many automobile manufacturers in China. Chery has started building its first factory outside Sao Paulo and an expected output of 50,000 units / year here at the end of 2013. Meanwhile, the Jianghuai Automobile (JAC Motors) will invest between 600 to 900 million assembly plant for its first car in Brazil, expected to go into operation in 2014.

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