Chery Automobiles to supply Fiat with 1.6 & 1.8lt engines!

Could this be the end of the "Italian" world as we knew it? Well we'd better get used to the idea as Fiat signed a Memorandum of Understanding (MoU) with Chinese car company, Chery.
According to this agreement, Chery Automobile will supply more than 100,000 1.6 and 1.8 lt gasoline engines for application in Fiat cars to be produced in China and... most importantly, outside China -though they didn't say which markets will receive the Chinese made engines (lets hope, not engineered). The two companies are engaged to sign the definitive supply agreement before year end.
PS: When Fiat's CEO, Sergio Marchionne says that he sees "the potential for a wider cooperation both in powertrains and, eventually, in other automotive sectors", i hope he doesn't mean something like this: GreatWall Panda
Sergio Marchionne, CEO of Fiat:"The agreement with Chery will give us the opportunity to further increase the competitiveness of our product range on the international markets. In the relation with Chery we see the potential for a wider cooperation both in powertrains and, eventually, in other automotive sectors"Yin Tongyao, President and General Manager of Chery Automobiles: " The successful cooperation between Chery and Fiat Auto shows Fiat's confidence and trust in Chery, and it is also an important step taking by Chery. The prospect of our cooperation is very promising