Purpose

I will try my best to provide detailed info on various cars and what is like to live with them, I have already produced a few for Jaguar-car-forums, I will do my best to be unbiased, but it will be hard for some cars. I will re-produce press releases and copy from other motoring news.

Wednesday, 1 June 2016

GAC and Fiat Chrysler have NOT made any agreement to transfer a majority stake of FCA to GAC.

Fiat Chrysler Automobiles has not made any agreement with China's Guangzhou Automobile Group to sell a stake, said FCA Chairman John Elkann.

Fiat Chrysler already has a partnership with GAC to manufacture Jeeps in China. Earlier this month, an Italian newspaper said GAC was considering a bid for a majority stake in Fiat.



GAC also wants to enter the U.S. market with Fiat Chrysler's help.

Asked whether French carmaker PSA Peugeot Citroen also could make a good partner, Elkann said Fiat Chrysler was looking for a transformational deal. "This [a PSA partnership] would not fall in this category," Elkann said.

According to a report in Les Echos on Tuesday, the French government is weighing a possible sale of part or all of its 14 percent stake in PSA.

Elkann made his comments Wednesday during a shareholder meeting of Exor, a holding company that owns Fiat.