Fiat Chrysler Automobiles (FCA) Chief Executive Officer Sergio Marchionne is open to the possibility of partnering with Ford Motor Company or General Motors.

According to a report by Bloomberg, Marchionne said that the idea of partnership with Ford or GM is “technically feasible.” The FCA boss added that the company doesn’t have any restrictions and the condition for any deal is “saving the highest amount of capital” on new models.

However, Marchionne clarified that there is still “nothing substantive” in regards to the possible partnership with Ford or GM.

In response, representatives of Ford and GM said that they are focused to continue working with their respective business plan.

Ford’s Susan Krusel expressed that the American automaker have “no other plan or interest than continuing to accelerate [their] own One Ford plan.” On the other hand, GM’s Tony Cervone said that they have their own strategy and does not welcome the idea of partnership with FCA.

Source: Bloomberg