FCA discussing tech partnership with Hyundai, but no merger

Fiat Chrysler Automobiles is in talks with South Korea’s Hyundai about a technical partnership, but there are no merger talks between the two, FCA Chief Executive Sergio Marchionne said on Saturday. FCA is often the subject of merger speculation, especially after its unsuccessful 2015 attempt to tie up with larger U.S. rival GM. Its share price jumped to record highs in August after reports of interest from China and Hyundai.

“We already buy components from (Hyundai) …. let’s see if we can agree on other points, especially for the development of transmissions and hydrogen,” Marchionne told journalists, adding there was “nothing to announce for the moment”.

Asked whether this collaboration could turn into a merger, Marchionne said: “I don’t believe so”. (Reporting by Agnieszka Flak; editing by Alexander Smith)

Related Video:

Let’s block ads! (Why?)

Autoblog

Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.