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Fiat Chrysler open to mergers but rules out Maserati sale

Reuters

GENEVA, March 5 () - Fiat Chrysler (FCA) is open to pursuing alliances and merger opportunities if they make sense but a sale of its luxury brand Maserati is not an option, Chief Executive Mike Manley said in Geneva on Tuesday.

"We have a strong independent future, but if there is a partnership, a relationship or a merger which strengthens that future I will look at that," Manley told reporters at the Geneva car show.

Asked whether he would consider selling Maserati to China'sGeely Automobile Holdings, as suggested by recent media reports, Manley said: "Maserati is one of our really beautiful brands and it has an incredibly bright future... No."

Manley, who took over after the death of Sergio Marchionne, said he currently had no news on possible deals.

Manley also said the world's seventh-largest carmaker, which is lagging rivals in developing hybrid and electric vehicles, would take the least costly approach to comply with increasingly more stringent European emissions regulations.

"There are three options. You can sell enough electrified vehicles to balance your fleet. Two: You can be part of a pooling scheme. Three is to pay the fines," he said.

"I don't see a scenario when (carmakers) continue to subsidise technologies ... indefinitely."

The carmaker had said last June it would invest 9 billion euros ($10.19 billion) over the next five years to introduce hybrid and electric cars across all regions to be fully compliant with emissions regulations.

Asked about a 5 billion-euro investment plan for Italy FCA announced in November but then put under review, Manley said the plan had been confirmed as originally presented.

The plan was examined earlier this year after Rome approved new taxes on the purchase of larger gasoline and diesel cars.

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