Fiat unit in battery deal for electric vehicles

Newswire

MILAN, Aug 31 (Reuters) - Italian vehicle group Fiat SpA's Magneti Marelli unit has signed an agreement with Italy's FAAM SpA for development, production and sale of lithium batteries, Fiat said on Monday. The electronics and components unit sees joint development of the batteries for electric propulsion of cars, motorbikes, buses and other vehicles, leading to product sales in the second half of 2010, it said in a statement. A Milan-based analyst, who asked not to be named, said Fiat ...

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