UPDATE 1-Fiat Chrysler CEO says company not in merger talks
DETROIT Jan 12 (Reuters) - Fiat Chrysler Automobiles Chief Executive Officer Sergio Marchionne said on Monday he is not in talks with another automaker on a merger, but that there needs to be consolidation throughout the industry to develop new products.
Marchionne said cooperative work among automakers is needed because of the advanced technology in vehicles, in particular the need for better fuel economy and emissions cuts.
He also called for an easing of the 2025 fuel economy targets by the U.S. government to give automakers more time to meet them. The U.S. Environmental Protection Agency is going to conduct a review of the targets by 2018, and Marchionne said he expects other automakers to lobby the EPA as well.
Marchionne made his comments at a press conference at the Detroit Auto Show.
Marchionne also said a bond issue may accompany a Ferrari initial public offering in the second quarter.
A secondary listing in Europe may accompany a primary U.S. listing of the luxury sports car brand, he added. He did not say where a secondary listing may take place. (Reporting by Bernie Woodall; Editing by Jeffrey Benkoe)
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