Fiat is ready to pump another €1 billion into a Fiat Auto recapitalisation if needed, chief executive Giuseppe Morchio told Reuters.

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The news agency noted that, in April, Fiat approved a €5 billion euro recapitalisation of Fiat Auto and immediately put in €3 billion by cancelling loans to other units of the tractor-to-robotics group.

That left €2billion that can be pumped into the loss-making car unit — one billion euros due to come from Fiat and one billion from General Motors which has so far refused to put up more cash to keep its stake at 20%, Reuters said.

“If required, we will be ready to put in (another €1 billion),” Morchio reportedly told analysts on a conference call.

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