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Merger Between Popular Car Companies Possibly On The Horizon
With the race to perfect new types of cars heating up more everyday with the dream of autonomous driving and a fully connected vehicle, it is no wonder that rival companies may start to work together to get ahead of other companies.
Fiat Chrysler Automobiles (FCA) (FCHA.MI) boss Sergio Marchionne said on Sunday that seeking a tie-up with General Motors (GM.N) was a “high priority” and such a deal would also be the best strategic option for its U.S. rival.
GM’s board rebuffed a merger proposal from the Italian-American carmaker earlier this year. That has not stopped Marchionne from wooing his bigger competitor as he seeks to reduce the number of players in the industry and share the prohibitive costs of building greener and more intelligent cars.
“That discussion remains a high priority for FCA,” he told journalists on the sidelines of the Formula One Italian Grand Prix in Monza, northern Italy.
He did not want to discuss the next steps FCA might take or their timing, but said a merger with GM would “be the best possible strategic alternative for us and for them. General Motors does remain the ideal partner for us and we represent a not easily replaceable alternative for them.”