Fiat Chrysler Automobiles leader Sergio Marchionne recently said its proposed merger with larger rival General Motors was his “high priority” and the agreement would deliver strategic opportunities to the seemingly unwilling future partner.
The Italian-American automaker has already delivered a proposal to meet and discuss terms but the General Motors board openly refused to go through. But the setback has not made Marchionne less confident in trying to lure its larger rival to the negotiations table. He aims to cut down the number of automakers in the auto industry and make huge economies by sharing the cost of developing new and advanced vehicles. “That discussion remains a high priority for FCA,” he explained to media representatives while attending the Formula One Italian Grand Prix in Monza, northern Italy, on Sunday.
According to the executive, a deal with GM would “be the best possible strategic alternative for us and for them. General Motors does remain the ideal partner for us and we represent a not easily replaceable alternative for them,” though he refrained from describing the next steps taken by FCA towards that goal. Meanwhile Gm has been adamant in claiming its path is shared with no one – its strategy was to deliver added value for its shareholders, even though they did review the idea of a possible merger with Fiat Chrysler Automobiles. Marchionne added he did not discuss with GM investors his deal, though he might have done so by “accident” since they do share some of the stakeholders.