Mumbai: Automakers Tata Motors and Mahindra & Mahindra have shown interest in taking over Fiat's Termini Imerese plant in Italy, The Business Standard reported on on Thursday.
Both the Indian companies are holding separate negotiations with Fiat, the newspaper said, quoting unnamed senior officials accompanying Italy's minister for economic development, Claudio Scajola, who is on a visit to India.
Scajola told the paper he was not aware of the development, but said "Indian investors, including Tata Motors and M&M are welcome in Italy."
A spokesman for Tata Motors told The Business Standard, "Tata Motors does not comment on such matters." Mahindra officials declined comment, it said.
Fiat had said in June the Termini Imerese plant in Sicily would halt its car production, the Lancia Ypsilon, by 2011 to be replaced by some other output which has not been specified.
Tata Motors has an existing equal joint venture with Fiat in India, which makes a range of models such as the Palio, Linea and Grande Punto.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter and Google+)
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.