Fiat not buying Mazda, increases stake in Chrysler

Posted in Cars / By /

Fiat not buying Mazda, increases stake in Chrysler

Fiat has put an end to speculations saying that the Italian carmaker will be acquiring shares in Mazda. The speculation was inspired by the announcement made last week of the two carmakers. The announcement stated that Alfa Romeo and Mazda will be working together to produce the next generation of their respective sports cars.

Fiat Chairman John Elkann, during the annual shareholder meeting of Exor, said that the Italian car company is not interested in buying Mazda. Exor is the Agnelli family’s investment company that controls Fiat and Chrysler.

Currently, Fiat owns 58.5% in Chrysler and intends to increase its shares by 3% starting in July. Fiat eventually wants full control over Chrysler; no further details were given. Fiat is also expected to add an Asian partner to conclude its global turnaround.

Source: Automotive News

Looking to sell your car? Sell it with Carro.

10% discount when you renew your car insurance

Compare prices between different insurer providers and use the promo code 'PAULTAN10' when you make your payment to save the most on your car insurance renewal compared to other competing services.

Car Insurance

Chris Ng

Chris Ng believes that all cars are made equal, and each one has its own unique story to tell. As such, the ex-advertising man is here doing what he truly loves, which is authoring the allegories and anecdotes of automobiles. Having served time in a motoring mag, he believes there's nothing more sublime than keeping the pedal floored and things burbling in top gear.

 

Comments

  • be sensible on Jun 01, 2012 at 12:44 pm

    fiat seeking an asian partner? sime darby? naza? drb hicom?

    Like or Dislike: Thumb up 0 Thumb down 0
    Reply
 

Add a comment

required

required