Mazda Motor and Fiat Group Automobiles have collaborated to develop a new roadster for the Mazda and Alfa Romeo brands based on Mazda's new MX-5 architecture.
As per the agreement, both the carmakers will develop two different roadsters, featuring rear-wheel drive, with their specific proprietary engines, at Mazda's Hiroshima plant, with production of the Alfa Romeo version expected to begin in 2015.
Both the companies said that the final agreement on collaboration is expected to be signed in the second-half of 2012.
Fiat CEO Sergio Marchionne said, "By partnering with Mazda, we will be co-operating with the recognized leader in compact reardrive vehicle architectures in order to deliver an exciting and stylish roadster in the Alfa Romeo tradition."
Mazda and Fiat have also decided to cooperate on further opportunities in Europe.
Mazda reported net loss of JPY107bn ($1.3bn) for the fiscal year ended March due to the decline in its vehicle sales in all regions except North America.
