New FCA alliances possible but not crucial, says chief executive
A merger between Fiat Chrysler Automobiles (FCA) and another automotive firm is possible but not crucial to the firm’s future, according to its chief executive.
Mike Manley, the head of the Italian-American giant, says the future of FCA is ‘solid’ but it is open to the idea of a new alliance if the right opportunity arises.
Speaking following the firm’s Q2 financial results, Manley said: “Strategically, we have a solid future and clear plans that are being invested in and are underway now. That isn’t to say if there is a better future through an alliance or partnership or merger, we wouldn’t be open and interested in it”
A deal for FCA to merge with Renault had been close to completion earlier this year, with a tentative agreement made, but the move fell through. FCA claims political conditions in France ‘do not currently exist for such a combination to proceed successfully’.
Had the deal gone come to fruition, it would’ve placed the new alliance as the third-largest manufacturer globally — behind Toyota and the Volkswagen Group — with a worth of almost $40bn (circa. £32.7bn).
Manley has suggested that new partnerships with firms outside of other car manufacturers are a possibility, too. He added: “There are cooperations that can help in specific technologies. There are cooperations as we think about the consumer-car interface. You could see collaborations that never would be there in the past”