Marchionne Considers New Fiat-Chrysler Partner to Cut Costs

Fiat SpA and Chrysler Group LLC may seek to combine with another automaker to increase efficiencies and cut development costs as the European debt crisis eats into the Italian carmaker’s sales.

“There may be a third partner,” Sergio Marchionne, chief executive officer of both companies, said at the North American International Auto Show in Detroit yesterday. “You need to build a new level of efficiency.” Marchionne said the partner can be “of any color you want if it gives me the level of industrial convergence I’m looking for.”