Iveco SUV deal

FIAT-OWNED truck manufacturer Iveco signed a letter of intent with Spanish four-wheel drive outfit Santana last week to jointly develop a new 4WD wagon aimed at commercial markets.

Expected to be green-lighted by the end of the year, and in production during 2007, the vehicle will be based on Santana’s tough PS10 4x4 light commercial using Iveco engines and transmissions.

Santana is best known for building Land Rovers under licence but since the mid-1980s has been building 4WDs for Suzuki and, in recent years, developing its own heavier-duty, Land Rover Defender-like vehicles.