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Fiat Chrysler proposes merger with Renault to reshape car industry27 May 6:13am

Fiat Chrysler proposes merger with Renault to reshape car industry

The Guardian
Deal would create world’s third-largest automaker and save €5bn a year by sharing research Fiat Chrysler has proposed a merger with France’s Renault that would create the world’s third-largest carmaker and save billions needed to invest in the race to make electric and autonomous vehicles. The merged company would produce 8.7m vehicles annually and save €5bn ($5.6bn or £4.4bn) each year by sharing research, purchasing and other activities, according to a statement released by Fiat Chrysler Automobiles (FCA). It said the deal would involve no plant closures but did not address potential job cuts.
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