FCA is Not Merging with Hyundai Anytime Soon

Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne has confirmed there are no merger talks between the automaker and Hyundai.

Reports of Hyundai’s interest in acquiring FCA surfaced in late September, but Marchionne recently addressed those rumors, confirming a merger isn’t going to be happening anytime soon. There are however, talks about a technical partnership between the two companies, one that makes sense in Marchionne’s mind since FCA already purchases components from Hyundai. FCA is exploring to see if it can agree with Hyundai on “other points, especially for the development of transmission and hydrogen,” said Marchionne.

When asked by journalists if the collaboration could turn into a merger, Marchionne replied, “I don’t believe so.”

SEE ALSO: Hyundai is Apparently Interested in Purchasing FCA

Marchionne is currently working on a new business plan to 2022, although his mandate ends in April 2019. He plans on presenting the new plan in the second quarter of 2018 and part of the strategy will be to simplify its portfolio.

[Source: Reuters]