According to press reports in Italy, it has emerged that Chinese group Geely has expressed an interest in purchasing Alfa Romeo and Maserati from FCA. Initially reports suggest Geely’s ambitions are directed towards CNH Industrial, which produces the Iveco trucks but it seems negotiations could also focus on the Alfa Romeo and Maserati brands.
Geely already owns Proton, Volvo, Polestar and Lotus, as well as a share in Daimler. The possible acquisition of the two Italian marques would certainly help both Alfa Romeo and Maserati in the Chinese market who are both are struggling to boost sales. According to what was revealed in recent days by Milan Finance, Geely could try to buy the brands to broaden the horizons of its luxury portfolio.
The sale of the two Italian brands would allow FCA to obtain a great deal of liquidity to be used in expanding the Group as with the sale of Alfa Romeo and Maserati, FCA could “get rid of” four of the group’s seven plants in Italy this would therefore see it investing in the development of very profitable brands such as Jeeps, which FCA has said is of incredible importance to its future.
It may only be a rumour but anything can happen, as the Magneti Marelli case taught and as Manley himself has previousy pointed out, the CEO never excludes anything. We must not forget that FCA is restructuring slowly but surely, but with an uncertainty about the future already manifested by workers and unions, in which they fear for the future of the Turin plants, rumour or not it could become a very real possibility.