Fiat SpA is scouring Asia for a possible partner after the planned alliance between General Motors Co. and PSA Peugeot Citroen shrank the pool of European candidates.
Chief Executive Officer Sergio Marchionne, who says he’s searching for a third partner after merging with Chrysler Group LLC to help reduce development costs and boost sales in fast- growing countries, said teaming with either Suzuki Motor Corp. (7269) or Mazda Motor Corp. (7261) makes sense. Fiat and Chrysler only sell half the cars Marchionne said is needed for long-term survival.
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