Summary Box: Mazda dives on plan to raise $2B

AP News
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Posted: Feb 23, 2012 11:36 AM
Summary Box: Mazda dives on plan to raise $2B

STOCK SKIDS: Mazda stock dropped nearly 7 percent Thursday after the struggling car maker said it will raise about $2 billion from selling new shares to invest in assembly plants and develop new technologies.

NEW WHEELS: The automaker plans to introduce eight new vehicles by early 2016 using its "Skyactiv" technology that improves fuel efficiency by 20 percent to 30 percent compared with older models.

FORD BACKS AWAY: Ford bought 25 percent of Mazda in 1979, raising it to 33.4 percent in 1996. It began cutting ties in 2008, and in 2010 lowered its ownership to 3.5 percent.