Laggard Fiat vows to keep up with changes in motor industry
Chair John Elkann says the carmaker can benefit from the emergence of electrified and autonomously driven vehicles
New York — Fresh off reports that it is exploring a venture with PSA Group to build cars in Europe, the chair of Fiat Chrysler Automobiles (FCA) said the carmaker will remain an active player in helping to shape an automotive industry being transformed by technology. John Elkann, the chair and CEO of Exor, wrote in a letter to shareholders of the holding company about his belief that Fiat Chrysler can benefit from the emergence of electrified and autonomously driven vehicles. Exor, with a 29% stake and 42% of voting rights, is the Italian-American carmaker’s largest holder. “We are determined that we and FCA will play our part actively and ambitiously in this new and exciting era,” Elkann wrote. “Our commitment to FCA and to participating in its bold and profitable future is also unchanged.” The Fiat chair, scion of the carmaker’s founding Agnelli family, has repeatedly sought in recent years to tamp down speculation that Exor would seek to sell all or part of Fiat Chrysler to anoth...
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