This story has been updated to include comments from Ford Motor Co.
Fiat Chrysler Automobiles’ dream of initiating a sweeping merger with one of its global rivals isn’t dead.
John Elkann, chairman of Exor, the Agnelli-family investment company that controls FCA, laid out the reasons why mergers were the key to future of the auto industry.
Sergio Marchionne, FCA’s chief executive officer, actually proposed a merger with General Motors last year and laid out the case for consolidation in a presentation dubbed “Confession of Capital Junkie.” GM and its CEO Mary Barra rejected Marchionne’s overture for a friendly merger. (more…)