Fiat Chrysler CEO Sergio Marchionne is looking to set the automaker up for a merger, potentially before he retires at the end of the decade. The Canadian-Italian businessman recently named Ford as a potential partner for FCA to merge with, however the Dearborn-based automaker has since denied they are interested in a tie-up with FCA.
“As we consistently have said, Ford has no plan or interest other than to continue to accelerate our One Ford plan, deliver product excellence and drive innovation in every part of our business,” the automaker said in an emailed statement to The Detroit News.
Ford was one of three automakers Marchionne named as potential partners for a “big” auto industry consolidation today. Earlier this week, FCA chairman John Elkann said partnering with one of the auto industry’s “big guys,” could save FCA $10 billion a year, backing up Marchionne’s statements in regards to consolidation.
Marchionne also said a partnership with Toyota and Volkswagen AG could come about. Toyota provided “no comment,” when asked about the statements by The Detroit News, while VW did not immediately respond to the request. Last year Marchionne tried to court General Motors for a partnership, but the Detroit auto giant turned him down. Friday he acknowledged Korea’s Hyundai as an other candidate, but at the same time doubled down on his desire to merge with GM.