Anton Andres / Manufacturer Press | December 11, 2017 14:04
Fiat-Chrysler CEO says no merger plans with Hyundai
Back in September, it was reported that Hyundai may possibly purchase Fiat Chrysler Automobiles (FCA). It now appears that the two automakers will possibly be working together, albeit as a partnership and not Hyundai buying the Italian-American company.
FCA CEO Sergio Marchionne has told the press that they are in talks with Hyundai for a technical partnership. He did, however, state that there are no merger plans between the two. The CEO stated that with FCA already buying components from Hyundai, they would like to strengthen their relations with the Korean brand even further. Among FCA's co-development plans would be in the transmission and hydrogen power departments.
Speaking of hydrogen power, Hyundai is pushing to produce the first mass-market fuel cell vehicle in their home market. Likely to be the 'Next Generation FCEV', Hyundai says the model is already close to production and they aim to release it by next year. Fiat Chrysler on the other hand has no fuel cell electric vehicles in its portfolio and the fuel cell concepts from the past never made it to production. They do however, have a hybrid, in the form of the gas-electric Chrysler Pacifica.
While Marchionne said that there are talks between them and Hyundai, the latter did not confirm or deny if there are indeed negotiations. However, they did say that they welcome the interest from other automakers in their newest technologies in eco motoring solutions and powertrain. Should this partnership come to fruition, it may expand FCA's hybrid product range and may even see an FCEV in the automaker's future. Marchionne added that the four-year business plan will be announced by the second quarter of 2018.
Source: Automotive News