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March 5, 2019

GENEVA – FCA open to M&A but Maserati off the table

Fiat Chrysler (FCA) was open to pursuing alliances and merger opportunities if they made sense but Maserati is off the table, chief executive Mike Manley at the Geneva show.

By Olly Wehring

Fiat Chrysler (FCA) was open to pursuing alliances and merger opportunities if they made sense but Maserati is off the table, chief executive Mike Manley at the Geneva show.

“We have a strong independent future, but if there is a partnership, a relationship or a merger which strengthens that future I will look at that,” Manley told Reuters.

Asked by Reuters whether he would consider selling Maserati to China’s Geely Automobile Holdings, as suggested by recent media reports, Manley said: “Maserati is one of our really beautiful brands and it has an incredibly bright future… No.”

Manley, who took over after the death of Sergio Marchionne, told Reuters he currently had no news on possible deals.

Manley added FCA would take the least costly approach to comply with increasingly more stringent European emissions regulations.

“There are three options. You can sell enough electrified vehicles to balance your fleet. Two: You can be part of a pooling scheme. Three is to pay the fines,” he said.

“I don’t see a scenario when [carmakers] continue to subsidise technologies … indefinitely.”

Reuters noted FCA said last June it would spend EUR9bn (US$10.19bn) over the next five years to introduce hybrid and electric cars across all regions to be fully compliant with emissions regulations.

Asked about a EUR5bn investment plan for Italy FCA announced in November but then put under review, Manley said the plan had been confirmed as originally presented.

The plan was examined earlier this year after the Italian government approved new taxes on the purchase of larger petrol and diesel cars.

FCA looks to the future – where next for Jeep?

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