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