Fiat Chrysler Automobiles NV (FCA.MI) and Hyundai Motor Co. Ltd. (HYMLY) are in talks about a technical partnership, Fiat's Chief Executive Sergio Marchionne said on Saturday, according to a report by Reuters.
Mr. Marchionne said that Fiat was already buying components from Hyundai and was eying an agreement on other points, such as the development of transmissions and hydrogen technology, according to the report. He also said that he did not believe the collaboration could turn into a merger.
In a statement a Hyundai spokesman said there was no concrete discussion with Fiat, but that Hyundai welcomed any interest in its mobility technology.
A spokesman for Fiat declined to comment, but referred to the statements made by Mr. Marchionne.
Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard
(END) Dow Jones Newswires
December 04, 2017 05:58 ET (10:58 GMT)