Fiat SpA (F) will produce a new Alfa Romeo roadster with Mazda Motor Corp. (7261) as part of a plan to revitalize the upscale Italian brand.
The Japanese carmaker will produce the vehicle, which will be based on the next-generation Mazda MX-5, at its factory in Hiroshima, the companies said today in a joint statement. Production of the two-seat convertible will start in 2015.
Fiat Chief Executive Officer Sergio Marchionne is overhauling Alfa Romeo with new models in an effort to mimic Volkswagen AG (VOW)’s success with Audi, which is the German carmaker’s main moneymaker. The agreement today finalizes plans the Italian and Japanese companies announced in May.
The Alfa Romeo and Mazda roadsters will be developed for the global market. Each version will have distinct styling and use engines unique to each brand, the companies said today.
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