Fiat, Mazda Alliance: No Plans to Buy Stakes in Each Other
Last week, Fiat and Mazda announced they were partnering up to develop the next-gen Alfa Romeo roadster. The automotive press and the car community then wondered if the partnership would go even further, especially after Fiat stated it was open to allowing Mazda to build in its Fiat and even Chrysler factories. Car enthusiasts flooded their favorite sites with speculative "Fiatzadas," vehicles like Alfa Romeos powered by Mazda rotary engines. Fiat nixed such plans this week; more specifically, of buying shares in the Japanese automaker. Stated John Elkann, chairman of Fiat, "We have no plan to buy a stake in Mazda." Instead, Fiat continues to up its ownership of Chrysler. Currently, the Italian automaker has a near 60-percent stake in the smallest American automaker, with plans to purchase at least three percent more sometime in early July. Eventually, Fiat plans to fully own the company. Automotive.com's take: Automakers constantly form (and break) alliances in the hopes of sharing certain technologies, reducing costs via mass production, and access to new markets. If Fiat and Mazda had furthered their relationship, Fiat would have gained access to Mazda's worldwide markets while Mazda would have had potential access to Fiat's coffers to help stem its cash flow issues. Source: Reuters
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