Chery Automobile has postponed a joint venture (JV) with Italy’s Fiat because of changing market conditions, Reuters reported. "Foreign automakers are affected by the financial crisis and any additional investment will be difficult for them at a time like this," said Chery Chairman Yin Tongyao. Yin stressed that the JV was postponed, not shelved. The JV was scheduled to start this year. When asked by reporters if Chery was interested in purchasing a foreign car brand such as Volvo, Yin did not rule out the possibility.
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