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Mazda & Fiat to jointly produce sports car
Japanese automaker Mazda Motor and Italy’s Fiat said Wednesday that they have agreed to jointly produce a new two-seater sports car as part of a technology and product development alliance. The vehicle, which will use Mazda’s next-generation rear-wheel-drive technology, is to be sold under the Mazda and Alfa Romeobrands, the latter owned by Fiat, with some differences including an engine…
U.S. seals deal to sell Chrysler stake
WASHINGTON — The US Treasury has said it reached an agreement to sell the government’s stake in Chrysler Group for an estimated $560 million to Italian automaker Fiat. With the deal, the Treasury “will have fully exited” its investment in Chrysler under the Troubled Asset Relief Program (TARP). “As Treasury…
Chrysler details plan to pay off government loans
CHICAGO — Chrysler on Thursday detailed a $7.5 billion refinancing plan that will allow it to pay off government loans and expand Fiat’s stake in the US automaker. Chrysler said the $3.2 billion bond issuance, $4.3 billion in loans and the Fiat equity investment will close on Tuesday. Chrysler and…
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