Russia's Severstal to produce more Fiat cars; wants Fiat stake

MILAN (AFX) - The Russian group Severstal is studying the possibility of producing more Fiat models than the three already agreed and is interested in buying a stake in the Italian car maker, the daily Finanza & Mercati said without giving a source. The Russian group may have already started building up a stake in Fiat SpA, it added. Earlier this year, Severstal agreed to assemble three of Fiat's car models -- The Albea, Doblo and Palio -- as well as import and distribute in Russia all vehicles of the Fiat brand. Tags: fiat cars