AUTO INDUSTRY NEWS

Report: Fiat Chrysler CEO open to merger with Apple or Google

Report: Fiat Chrysler CEO open to merger with Apple or Google image

Text: Martin Aguilar / Photos: Newspress USA | posted May 06, 2015 11:00

Sergio Marchionne eyeing an alliance with Apple or Google

Fiat Chrysler Automobiles (FCA) Chief Executive Officer Sergio Marchionne is reportedly open to the possibility of merging or partnering with tech companies such as Apple or Google.

In a report by Bloomberg, Marchionne said that he has “always been intrigued by the notion of having technology disruptors show up in the marketplace and change the paradigm.”

The FCA boss also said that he is open to a “dialogue” with the tech companies but, Marchionne stated that they could “fundamentally hurt” the industry if they successfully enter the automotive market.

"If they show up and they are truly successful, with their cash piles and know-how, they could fundamentally hurt this industry," Marchionne said.

With that in mind, Marchionne told reporters that this is his reason why the automotive industry should consolidate.

Source: Bloomberg