Home / Auto News / News article: Fiat Won't Acquire Mazda Stake: Chairman Says - AutoGuide.com News
 |  May 29 2012, 7:15 PM

When Mazda and Fiat announced plans to co-develop the next MX-5 Miata and Alpha Romeo Spyder the auto news industry quickly went abuzz with speculation.

People bridged the assumed gap that there might be a deeper connection there than just the single car project, but it seems it was without basis. Fiat Chairman John Elkann made it clear today that the company has no plans to acquire a stake in Mazda and that there is no such deeper partnership.

The Italian automaker will, however, still increase its stake in Chrysler to over 60 percent. Eventually, the company plans to own 100 percent, though absolute ownership is still far from being complete. Elkann also wouldn’t provide details on future plans the planned purchase.

 

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    The single car project, but it seems it was without basis.