PSA chief says not focused on partnership with Fiat Chrysler

Peugeot Invest SA

03/04/2019 13:58

CHENNAI, April 3 (Reuters) - French carmaker PSA Group
 PEUP.PA  is not focused on negotiating a new partnership with
Fiat Chrysler  FCAU.N , 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
 FFPP.PA  last month said he would support a new deal and had
suggested Fiat Chrysler was among the options.  urn:newsml:reuters.com:*:nL8N2163NT
    "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)
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