Chrysler CEO Stops Speculation of VW-Fiat Merge
Rumors have been circulating about a potential merge of Volkswagen Group and Fiat Chrysler Automobiles. But according to Fiat Chrysler CEO Sergio Marchionne, this was never in the works. Earlier this month in a German magazine, an article was published that claimed Volkswagen Chairman Ferdinand Piech was in talks with Fiat Chrysler to purchase some or all of the company. However, since the article came out, VW has denied takeover plans and Fiat denies there were ever any talks about the possibility. While things with VW may not be happening, Chrysler signed a deal with Renault for a light commercial vehicle based off a Renault platform. "Technically, the new vehicle will be very similar to the Fiat Scudo, but there will also be some major improvements," said Fiat Chrysler CEO Sergio Marchionne in a recent interview. Right now, Marchionne isn't sure what platform will be used to produce the new model or where in France it will be produced. Also, there are no current plans to further the partnership with Renault after the new vehicle is built. Expansion is on the horizon for the company, as it is looking everywhere from Europe to Asia, especially, as that is where it may have the most growth opportunities. But the company is "not in a hurry" for further tie-ups with Asian carmakers. Source: Reuters
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