Fiat Won't Acquire Mazda Stake: Chairman Says

Luke Vandezande
by Luke Vandezande

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.

Luke Vandezande
Luke Vandezande

Luke is an energetic automotive journalist who spends his time covering industry news and crawling the internet for the latest breaking story. When he isn't in the office, Luke can be found obsessively browsing used car listings, drinking scotch at his favorite bar and dreaming of what to drive next, though the list grows a lot faster than his bank account. He's always on <A title="@lukevandezande on Twitter" href="">Twitter</A> looking for a good car conversation. Find Luke on <A title="@lukevandezande on Twitter" href="">Twitter</A> and <A title="Luke on Google+" href="">Google+</A>.

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