Volkswagen Chief Executive Matthias Mueller has rebuffed overtures about merging with Fiat Chrysler, saying his company had enough on its plate already as it battles to recover from a diesel emissions scandal, according to Reuters.
Fiat Chrysler boss Sergio Marchionne said Tuesday that European market leader VW would be hardest hit by PSA Group's purchase of Opel, which will create a stronger European No. 2, and the pressure could prompt VW to sit down with FCA.
Marchionne has long advocated car industry mergers to share the costs of making cleaner and more technologically advanced vehicles and on Tuesday stressed deals were as vital as ever.
VW has an assembly plant in Chattanooga that produces the Passat sedan and Atlas SUV.