Fiat pursuing merger with General Motors

Monza

Fiat Chrysler Automobiles (FCA) boss Sergio Marchionne said yesterday that seeking a tie-up with General Motors was a “high priority” and such a deal would also be the best strategic option for its US rival.

GM’s board rebuffed a merger proposal from the Italian-American carmaker earlier this year. That has not stopped Marchionne from wooing his bigger competitor as he seeks to reduce the number of players in the industry and share the prohibitive costs of building greener and more intelligent cars. “That discussion remains a high priority for FCA,” he said on the sidelines of the Formula One Italian Grand Prix in Monza, northern Italy.

He did not want to discuss the next steps FCA might take or their timing, but said a merger with GM would “be the best possible strategic alternative for us and for them.