Exor’s Elkann says commitment to Fiat Chrysler unchanged

Exor’s Elkann says commitment to Fiat Chrysler unchanged

Fiat Chrysler Automobiles Chairman John Elkann attends the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Denis Balibouse

MILAN (Reuters) – The chairman of Exor John Elkann said the Italian holding group’s commitment to carmaker Fiat Chrysler remained unchanged.

In a letter to Exor shareholders, Elkann, who is also chairman of Fiat, said the next 20 years for the automotive industry, like its first 20 years, would see a greater level of change than during the intervening 100.

“We are determined that we and Fiat Chrysler will play our part actively and ambitiously in this new and exciting era,” he said in the letter which was published late on Monday.

Exor is Fiat’s biggest shareholder.

Recent media reports have said France’s Renault could be eyeing a bid for Fiat while in March the president of Peugeot family holding company FFP said he would support a new deal and suggested Fiat Chrysler was among the options.

Reporting by Stephen Jewkes

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