Fiat Chrysler Automobiles is reportedly in talks with Samsung over the future of its automotive components business Magneti Marelli.
FCA chairman John Elkann confirmed ongoing talks, but said that there is ‘nothing formal’, according to a Reuters report.
Go deeper with GlobalData
Magneti Marelli is attracting interest because it could have an important role in car development in the coming decades, Elkann said. He also told journalists that FCA is keen to strengthen the business.
FCA CEO Sergio Marchionne has said Magneti Marelli’s future would be outside the Fiat group in the long-run. Samsung is thought to be interested in the company as a way into the automotive business in high-growth technologies that would complement its consumer electronics business.
According to recent reports, Samsung is particularly interested in Magneti Marelli’s lighting, in-car entertainment and telematics business.
FCA is also said to be talking to other parties about the possible sale of Magneti Marelli, as it looks to improve its financial position. FCA is understood to be looking at gaining as much as EUR3bn from a potential sale of Marelli. Its most recent cash raising activity was spinning off Ferrari.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
