The Pak Banker

Fiat Chrysler talking with many non-core auto players: CEO

-

Fiat Chrysler Automobile­s is talking with many players outside the car sector about possible collaborat­ion, Chief Executive Sergio Marchionne said, and is keeping an open mind on what the possibilit­ies might be.

Car technology has become a prime area of interest for Silicon Valley companies including Alphabet Inc's Google, which has built a prototype self-driving car, and Apple Inc, which Marchionne said earlier this month should collaborat­e with carmakers to make a vehicle rather than trying to go it alone.

The growing use of computing power in vehicles is providing technology companies and automakers with new business opportunit­ies - and increasing­ly making them rivals. "We have parallel conversati­ons with many players who are outside the auto sector at the moment," Marchionne said at an impromptu press conference after an industry event here.

"We can't go into these discussion­s with a precise idea of what FCA wants. We're learning, just as they are learning," he said. "And the solution will be a shared solution and developed together with them, not developed by us alone."

Marchionne, who has long-touted the need for further consolidat­ion in the traditiona­l auto sector, reiterated reasons for not linking up with French carmaker PSA Peugeot Citroen (PEUP.PA), which has said it is open to strategic opportunit­ies.

"We ... realized that even though there was a certain advantage in an associatio­n with PSA, it was an advantage that was too little and that in effect would limit the choices open to FCA going forward," he said on Wednesday. Marchionne indicated that any partner for FCA would have to be strong where FCA is weakest, in China, the world's biggest auto market. "The great advantage of FCA as potential partner", said Marchionne, is that the company has a strong presence in Latin America where the market is weak at the moment, and in North America and Europe, but added, "we're much weaker than the others in China.

Newspapers in English

Newspapers from Pakistan