France says local plants must stay open in Renault-Fiat merger plan

Fiat Chrysler in tie-up talks with Renault: reports

Fiat Chrysler pitched a finely balanced merger of equals to Renault on Monday to tackle the costs of far-reaching technological and regulatory changes by creating the world's third-biggest automaker.

The statement says the merged company would produce 8.7 million vehicles annually and save 5 billion euros for the companies each year by sharing research, purchasing and other activities. There would be no plant closures as a result of the merger, it said.

Also, the new company's structure would dilute Nissan's managerial leverage with 11 total board members of which only one would represent the Japanese brand, as reported by Autonews Europe.

A Renault official said the French automaker will simultaneously hold merger talks with the FCA and Nissan.

Miller wants Kane to start against Liverpool — UEFA UCL
Tottenham Hotspur are interested in a potential deal to sign Real Madrid winger Marco Asensio, according to a report in Spain . If not, you're going to kill me. "We have a few days still and want to use them, that's why he's in, out, in, out".

While Fiat Chrysler says the merger with Renault would accommodate the alliance and lead to savings it, it is unclear how the Japanese companies might react in the longer term to being tied to a much larger partner.

Industry shifts toward electric models, along with stricter emissions standards and the development of new technologies for autonomous vehicles, have put increasing pressure on carmakers to consolidate.

As alliance partners, Nissan and its affiliate Mitsubishi would benefit from an estimated 1 billion euros ($1.12 billion) in annual savings from the merger, FCA said.

But analysts also warned of complications, including Renault's existing alliance with Nissan; the French state's role as Renault's largest shareholder; and potential opposition from politicians and workers in France to any cutbacks. The French company had wanted to merge fully with Nissan until the arrest in Japan of chairman Carlos Ghosn on charges of financial misconduct.

Bradley Beal fails to make All-NBA team
Washington's star shooting guard set the league ablaze this season even as the rest of the team around him crumbled. Lillard is one of the best guards in the league, averaging 25.8 points and 6.9 assists for Portland this season.

Together, they would be worth nearly 37 billion euros ($40 billion).

The French government, which owns 15 percent of Renault, is cautious about the new merger idea.

April 2015 - The French state increases its Renault stake to 19.74% from 15% in a deal created to block efforts by Nissan to increase its influence over Renault. But the fractious relations between Ghosn and FCA's late CEO Sergio Marchionne made constructive merger talks impossible until after Marchionne's sudden death last July, banking sources said.

Nissan found out about Renault's merger talks with Fiat Chrysler just days before they became public, four sources told Reuters, stoking fears at the Japanese auto maker that a deal could further weaken its position in a 20-year alliance with Renault. The combination would create a brand portfolio that would provide full market coverage with a presence in all key segments from luxury/premium brands, such as Maserati and Alfa Romeo, to the strong access brands of Dacia and Lada, and would include the well-known Fiat, Renault, Jeep and Ram brands as well as commercial vehicles.

Abe May Visit Iran in June After Consultations With Trump
Iranian President Hassan Rohani has said that his country will not surrender to USA pressure even if it is bombed, amid growing tensions between Tehran and Washington.

Dias said the French government "will certainly be working actively to ensure a strong outcome for the industry in France", which highlights the role for governments to play in the Canadian industry.

Related News:



Most liked

Why losing Thursday's opening World Cup game matters
India's batsmen were "blown away" on the green wicket, the Hindustan Times said, sounding the alarm for their World Cup hopes. The meeting was attended by the officials of the cricket boards of India , Pakistan, Sri Lanka , Bangladesh and Afghanistan .

Severe thunderstorms possible for Memorial Day
With storms returning on and off Saturday through Monday the humidity returns with highs in the low-mid 80s and lows in the 60s. Wednesday calls for a chance of showers and thunderstorms, mainly after 8 a.m. with partly sunny conditions and a high near 88.

Mustafi stresses the importance of being organised in Europa League final
Emery admitted in the January transfer window that the club could only afford to take players on loan. We didn't play there for two years and we have to be there next season.

UK's Brexit Party Triumphs In EU Polls As Mainstream Contenders Flounder
Labour will bring our divided country together so we can end austerity and tackle inequality. He said the results were a message for Labour to " get off the fence " over Brexit.

Kane says he is ‘ready to go’ for Champions League final
Kane injured his left ankle in the first leg of Tottenham's Champions League quarter-final victory over Manchester City . However, Tottenham's record goalscorer has declared he's good to go against Liverpool in Madrid.

Missing Maui Hiker From Maryland Amanda Eller Found Alive
Her family asked for experienced rapellers and hunters to help look for the missing hiker in the densely-covered forest. Her mom told the Honolulu-based KHON-TV station that her daughter's leg fracture would require additional treatment.

FIRST ALERT: Less than ideal weather Memorial Day Weekend
Now, temperatures are slowly falling through the 90s and 80s, and lows will settle into the low 70s by sunrise tomorrow morning. Memorial Day in New Orleans will bring an early burst of summer heat, with highs in the 90s throughout the holiday weekend.

F1 Raceweek: Hamilton hopes rain will not scupper likely Monaco glory
The Italian team had worked over lunch to fix Sebastian Vettel's vehicle after he crashed in FP3, just hours before qualifying. Red Bull's Pierre Gasly finished fifth, with Carlos Sainz sixth and consolidating fourth place overall for McLaren .

Fed: Slowing inflation only temporary
The Federal Reserve officials voted in April to leave interest rates in the range of 2.25-2.5% . The US Federal Reserve is not eager to take any action to cut or raise interest rates.

Trump, House committees reach deal to stay subpoenas of Trump's financial records
Trump came of political age talking tough on trade in the 1980s, when Japan loomed large in the USA imagination as a competitor. US President Donald and Ambassador to Japan William Hagerty gesture to the audience of business leaders in Tokyo on Saturday.

@spicegirls reunion tour off to rocky start with some fans walking out
Thank you to our wonderful fans, without you we never could have done this, we are eternally grateful for your endless support. We told them what we wanted, what we really, really wanted, and the Spice Girls - without Posh - finally answered the call.

Huawei devices pulled from Android Enterprise Recommended program
The exemption has enabled Google to provide software updates to Huawei phones that run on Android through to August 19. The company's online store no longer has the product listing for the Huawei laptop.

USA steps up pressure with new charges against WikiLeaks' Julian Assange
The term of that grand jury expired earlier this month and Manning was subsequently released. Assange's methods and motives, which remain murky".

Manchester City respond to 'Pep Guardiola to Juventus' reports
Pep Guardiola to Juventus: Outgoing manager Massimiliano Allegri has thrown a huge hint on Pep Guardiola's possible Juventus move. He explained: "A club like Juventus would not have allowed such news to come out like this".

UK Prime Minister Theresa May resigns
The negotiations began in 2014 and a proposed accord was unveiled in December 2018. Brexit is likely to dominate the leadership contest.