Fiat-Chrysler CEO Sergio Marchionne says his company will retool to produce more and more profitable vehicles in Europe for both domestic and foreign consumption instead of closing factories to deal with the ongoing economic crisis in the region.
But he acknowledged the plan would use up all the money Fiat SpA had planned to spend acquiring the rest of Chrysler Group LLC.
"Building things is a lot more exciting than retrenching into defeat," Marchionne told analysts and reporters during a conference call Tuesday. "I think we need to come out fighting."Read Article