Fiat, BMW in Small Car Platform Deal, Report Says
By Michelle Krebs July 8, 2008Fiat and BMW reportedly will co-develop a new platform for small cars and may develop a new family of gasoline and diesel engines.
Fiat CEO Sergio Marchionne told reporters, as reported by Reuters, that the Italian automaker would sign an industrial alliance in the car sector on Wednesday, though he did not identify the partner. "We've been working on it for a good while. It's something simple," he told reporters at a media session to test-drive the Abarth version of the Cinquecento (500) city car.
Trade journal Automotive News Europe, citing supplier sources, said that partner would be BMW.
Marchionne dismissed the recurring suggestion of spinning off Fiat's car business, according to Reuters, and said the company would not buy any of the brands that GM might put up for sale. "Fiat is not interested in any of the American group's brands."
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