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Fiat axes mini SUV project

Fiat has called off its proposed mini-SUV project with Mitsubishi and Pininfarina which was to have been based on the Mitsubishi Pinin.

The move follows GM taking a 20% stake in Fiat in March and this month's move by DaimlerChrysler to take control of Mitsubishi Motors.

Fiat and Mitsubishi were unable to agree on the profitability of the venture. Fiat will choose another GM partner from Japan to produce a 4WD.

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