NEW YORK -- Fiat Chrysler Automobiles CEO Sergio Marchionne said he was not sure a tie-up with Great Wall Motor was the answer to his quest for consolidation to reduce costs, pushing back against the Chinese automaker's earlier expressed interest in his company.
Speaking to reporters on Monday, Marchionne said there were "sensitive issues associated with trans-national mergers," and he did not believe those issues had been thoroughly thought through between the two automakers.
In August, Great Wall made a direct overture to FCA to acquire part of the company, with a special interest in the Jeep brand.
While Marchionne has said in the past that he wants to find a partner or buyer for the world’s seventh-largest automaker as costs rise, he said aggregation with Great Wall would be difficult as the two companies do not overlap in terms of market or products.
Asked whether FCA would sell Jeep as a separate unit, Marchionne said that option was not being considered.