Fiat Chrysler in talks with Hyundai about the partnership –

Fiat Chrysler in talks with Hyundai about the partnership


Fiat Chrysler Automobiles revealed that it is in talks with Hyundai Motor Co. of South Korea about a technical partnership.

The alliance could become "a strong one", although there is no likelihood of a merger between the companies, Fiat Chrysler CEO Sergio Marchionne said Saturday at the Alfa Romeo Museum in Arese, near Milan.

"There is the potential of a technical partnership with Hyundai, which already supplies some components and transmissions for the US." Marchionnetold reporters after a presentation on the return of Formula One planned by Alfa . "Let's see if we find an agreement to develop transmission and hydrogen."

Marchionne, 65, a vocal proponent of car manufacturers' consolidation, is preparing a five-year business plan before retiring as CEO in 2019. Cooperation in hydrogen propulsion while rival plug-in electric vehicles emerge as the dominant technology in the emerging era of post-fossil fuel.

The CEO confirmed his plans to separate the Magneti Marelli and Comau components of Fiat Chrysler into separate companies by the beginning of 2019. The mechanism has not been decided, but could include the sale of a stake to raise cash.

Impulse to Alfa

A spin-off of the Alfa Romeo and Maserati brands is too remote to be discussed at this time, Marchionne said. while highlighting the importance of motorsport in the development of Alfa. A return to F1 could help polish the image of the brand while it seeks to rebuild a reputation for luxury.

Marchionne has invested billions of dollars to develop new vehicles after Alfa's lineup narrowed and sales collapsed in the last decade. The global president confirmed the financial objectives of Fiat Chrysler for 2018, including an increase in operating profit of around 9,000 million euros ($ 10,700 million) and the elimination of debt. The global appeal of F1 will bring greater exposure after previous attempts to expand beyond Europe.

and said it anticipates "manageable costs" of a diesel investigation that Fiat is facing in the US. UU

The theme "will cost us something, but we have reduced the risk expectations," said Marchionne, adding that The French investigation has no basis.

Marchionne, who met with US Vice President Mike Pence and other officials at the White House this week to discuss NAFTA concerns, said he does not see the Donald Trump administration coming out of the North Free Trade Agreement from United States.

"They want to find a solution that somehow re-establishes that American interest is more important," he said. "They think they gave up the table too much and they want to get it back, the question is how much and when."

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