Mazda, Alfa Romeo Finalize Sports Car Project

Mazda Motor Corp. and Fiat Group have finalized a deal to co-develop a pair of rear-wheel-drive sports cars and put them into production in 2015.

Mazda will build the convertibles in Hiroshima. The cars, which are intended to replace Fiat's Alfa Romeo Spider and Mazda's MX-5 Miata, will share the next-generation MX-5 platform.

The partners say each model will feature a unique design and its own brand-specific engine. Both vehicles will be developed for the global market.

Fiat and Mazda announced a memorandum of understanding last May to launch the project. In December Mazda CEO Takashi Yamanouchi told Automotive News that the partners might expand their agreement to include other programs.