FCA: No plans to break up the company or sell to the Chinese

Fiat Chrysler Automobiles (FCA) has revealed that it has no plans to split the company brands and sell them to Chinese companies or others. The company's CEO Sergio Marchionne said this at a press conference at the Detroit Auto Show. Marchionne also said that they have a good partner in China - the Guangzhou Automobile Group - for manufacturing cars locally.

Marchionne is expected to step down from the CEO position in early 2019 and hence bold decisions are expected to be taken by him in his last year. The Jeep brand is gaining popularity and is targeting sales of 2 million vehicles this year. This has raised rumours that FCA might spin it off like they did with Ferrari and CNH Industrial to generate revenue for the company as well as the shareholders

FCA separated from Ferrari by selling over 80% of its stake and got over $4 billion from the sale. In October 2017, FCA was also considering spinning off its subsidiary Magneti Marelli and Marchionne revealed that it will be detailed in the next year's business plan. Other brands under FCA include Fiat, Maserati, Chrysler, Alfa Romeo, Lancia, Dodge and Ram.

Source - Autoblog