FILE PHOTO: Carlos Tavares, Chief Executive Officer and Chairman of the Managing Board of PSA Group, attends a news conference to announce the company’s 2018 results at their headquarters in Rueil-Malmaison, near Paris, France, February 26, 2019. REUTERS/Christian Hartmann/File Photo
CHENNAI (Reuters) – French carmaker PSA Group is not focused on negotiating a new partnership with Fiat Chrysler, Chief Executive Officer Carlos Tavares said on Wednesday.
When asked if an alliance with Fiat was something PSA is actively exploring or in talks about, Tavares said … “No, we are not targeting a specific company. We are working with all of our partners.”
Media reported earlier this week that PSA and Fiat Chrysler were exploring a partnership to share investments to build cars in Europe.
The president of the Peugeot family holding company FFP last month said he would support a new deal and had suggested Fiat Chrysler was among the options.
“We have a lot of partnerships and of course it is very normal that we work with our partners to improve what we are doing continuously. But we are not targeting any specific car company for a very simple reason we don’t need it.”
“If there is an opportunity, we will consider but we don’t have to target any specific company and specifically not the one you mentioned.”
Reporting by Sanjana Shivdas in Chennai; Editing by Sweta Singh, Bernard Orr