The Italian-American car company Fiat Chrysler (FCA) proposes a merger with the French carmaker Renault. Fiat Chrysler announced today that the Group had submitted to Renault the offer of a merger. Renault said today’s board of directors come together to review the offer.
Both companies will in future each hold half of the merged automaker. A merger would create one of the largest auto companies in the world and challenge the market leaders Volkswagen and Toyota.
Already conversations in the past
„The proposed merger would create a global automaker outstanding in terms of revenue, volume, profitability and technology, as well as beneficial to corporate shareholders,“ continued Fiat Chrysler. There have already been discussions between the two companies to identify products and regions for cooperation.
The French manufacturer Renault has long been associated with the Japanese carmakers Nissan and Mitsubishi in an alliance. Together, they sold 10.76 million vehicles last year. With the US-American auto giant FCA the manufacturers would come to more than 15 million. They would significantly overtake Volkswagen (10.83 million).
FCA leads u. a. the brands Alfa Romeo, Fiat, Chrysler, Dodge, Jeep and Maserati. The group claims to have about 199,000 employees. There is growing pressure in the industry for collaborations and mergers to better address the trend towards greener engines and autonomous driving.
