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NEW YORK – author Motor Co. plans to team up with a Slavonic maker to attain and distribute cars in the country. The declaration came shortly after Italian maker Fiat SpA hardback out of a possibleness partnership with the same Slavonic company.

Fiat and Slavonic maker Sollers said in a render evidence that they would "pursue autarkical strategies." The two companies had subscribed a memorandum of understanding terminal assemblage to display up to 500,000 vehicles a assemblage in country in a bid to become the country's second-largest automobile maker. Fiat owns U.S. maker Chrysler.

Shortly after the Fiat announcement, author and Sollers unconcealed they had subscribed a memorandum of understanding. The companies said they module hit coequal stakes in their Slavonic render stake called author Sollers.

Local plants in the St. siege region and the Republic of Tatarstan module attain author traveller cars and light advertizement vehicles as substantially as engines. The stake module also separate a stamping artefact that module provide topical parts for author vehicles made in Russia, create research and development activities and goods and distribute author products, parts and accessories in Russia.

The render venture, which is due to start dealings by year's end, module help strengthen Russia's machine business and its topical cater base, author Odell, Chairman and CEO of author of Europe, said in the statement.

Ford, supported in Dearborn, Mich., began making cars in country in 2002.

Ford's have gained 13 cents to $16.10 in premarket trading on Friday.

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