Marchionne: Fiat – Chrysler looking for a partner to help cut production cost

Sergio Marchionne

General Motor and PSA Peugeot Citroen announced yesterday that they have formed a global alliance where they will save $2 billion on an annual basis by working together and reducing cost. Prior to that official announcement, Fiat and Chrysler CEO Sergio Marchionne said that they two companies are looking for a possible automotive alliance.

“We’re on the move,” Marchionne said told Automotive News. “We can be an active partner everywhere around the world.”

Marchionne has previously vocalized his interest in finding a partnership to share development technology and to reduce production cost.

When asked if he was looking for a partner in Europe, Marchionne said “there aren’t many left. I am looking at everyone.”

– By: Omar Rana

Source: AutoNews