Fiat Chrysler Automobiles CEO Sergio Marchionne says he is still on the hunt for a strategic partner within the automotive industry.
After being rejected by General Motors, Marchionne opened up his search field to firms outside of the automotive industry. Candidates for an FCA tie-up included tech giants like Apple and Google.
However, nothing appears to be moving forward on that front, so Marchionne has spun his rolodex back to his automotive contacts. Possible merger targets for FCA now include Volkswagen, Ford and Toyota, according to Marchionne.
“The door [on mergers] never closed, the need to consolidate does not go away” Marchionne told Automotive News.
Marchionne didn’t rule out South Korea-based Hyundai and its affiliate Kia, but added “the Koreans don’t get married.”
Marchionne hopes to get a merger deal done before his current contract expires at the end of 2018. If nothing is on paper by then, Marchionne says the issue would become “other people’s problem.”
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