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Friday, September 9, 2005
Fiat Cinquecento - Sporting ModelFord Ka
Italian-based Fiat Auto SPA and US-based Ford Motor Co. announced they signed an agreement to cooperate in designing two small car models. This came only seven months after General Motors severed their relationship with Fiat.
Both companies plan to work together on a new version of the popular Fiat Cinquecento and on a replacement for the Ford Ka, both to be based on the Fiat Panda platform.
The cooperation can help reduce the companies' small car production costs and ease financial difficulties they are facing. Ford is struggling with high labor and health care costs, while Fiat suffers from its unprofitable Italian plants.
After the deal was announced, shares of Fiat rose $0.06 to $9.44, while Ford gained $0.06 to $9.95 on the New York Stock Exchange (NYSE).
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Note that some listed sources or external links may no longer be available online due to age.
The text of this article has been released into the public domain. In the event that this is not legally possible, this article may be used for any purpose, without any condition, unless such conditions are required by law. This applies worldwide. Copyright terms on images, however, may vary, so please check individual image pages prior to duplication.
