General Motors chief financial officer John Devine on Wednesday said industrial alliances between the US carmaker and Fiat were “going very well.”

“The industrial alliances are going very well and there is more to be done. GM-Fiat Powertrain is providing strong benefits on both sides,” Devine told Reuters.

Asked about press reports that Fiat may ask for one billion euros to give up its option to sell GM the rest of its car arm Fiat Auto, Devine reportedly said: “I’ve read the same press reports. I’m sure we will come up with something.”

GM has contested the validity of the option, Reuters noted.