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Fiat and Mazda Merge to Develop Two-seater Sports Car

Two of the largest car manufacturers have made an alliance to develop a new two-seater sports car in the near future. Fiat's Alfa Romeo and Japanese car manufacturer Mazda are proudly informed the public about their plan in making a new breed of sports car that will be built at Mazda's plant in Hiroshima.

Their target date and year to start this project is around 2015 which the car will be based on a new version of Mazda's MX 5 - the car that Mazda is best known for. Mazda is trying to cut its costs after losing an approximate $1.3bn in its most recent financial year.

"Establishing technology and product development alliances is one of Mazda's corporate objectives, and this announcement with Fiat is an important first step in that direction," said Mazda President Takashi Yamanouchi.

Fiat CEO Sergio Marchionne is overjoyed in working with Mazda and said "an exciting and stylish roadster in the Alfa Romeo tradition".

FYI, Mazda had a close ties with US car company Ford which they owned nearly a third of Mazda in 1996 but winding-down that partnership after recent years with now 2% of Japanese company is only owned by Ford.

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