Fiat CEO says China venture near to breaking even

Newswire

SHANGHAI, Oct 30 (Reuters) - Fiat's venture with Nanjing Auto will be close to break-even this year, and is expected to make money next year, the Fiat group's chief executive officer Sergio Marchionne said on Monday. The venture has lost money for the past couple of years, Marchionne noted. He also told Reuters on the sidelines of an industry forum in Shanghai that the Fiat group would invest over 500 million euros ($635 million) in China between now and 2010. (1 euro = $1.2727)

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