Chrysler Group LLC says it ended an engine building alliance with Mitsubishi Motors Corp. (NYSE: MTU) and Hyundai Motor Co, according to Associated Press on Thursday.
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Chrysler is in talks to replace it with Fiat Group SpA, bringing the Italian automaker's technology to engine manufacturing in the
Fiat has 20 percent ownership stake in Chrysler.
The Global Engine Manufacturing Alliance (GEMA) between Mitsubishi, Hyundai and Chrysler was disbanded last month, with Mitsubishi and Hyundai selling their stakes to Chrysler for an undisclosed amount.
Chrysler says the move will have no effect on workers making the co-developed engines at a plant in
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