FRANKFURT (Reuters) – Volkswagen is looking to officially launch the stock market listing of its trucks unit Traton next week with a smaller deal size than originally anticipated, people close to the matter said on Tuesday. FILE PHOTO: The logo of Volkswagen’s truck unit Traton, former Volkswagen Truck & Bus AG, is pictured in Hanover,… Continue reading UPDATE 1-VW plans to launch downscaled Traton IPO next week – sources
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Blindsided by FCA-Renault talks, Nissan risks being left by the roadside
TOKYO/BEIJING (Reuters) – 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 carmaker that a deal could further weaken its position in a 20-year alliance with Renault. FILE PHOTO: A finished Nissan Altima comes off of the flex line… Continue reading Blindsided by FCA-Renault talks, Nissan risks being left by the roadside
Israel auto safety firm TriEye raises $17 mln in Intel-led round
TEL AVIV, May 28 (Reuters) – Israeli startup TriEye, whose short-wave-infra-red sensing technology is designed to see in adverse weather and at night, said on Tuesday it raised $17 million in an early funding round led by Intel Capital. Other investors include Marius Nacht, co-founder of Check Point Software Technologies, and TriEye’s existing investor Grove… Continue reading Israel auto safety firm TriEye raises $17 mln in Intel-led round
France insists any Renault/Fiat deal must protect French jobs: Le Maire
PARIS (Reuters) – France must protect its own interests and jobs in any merger between Renault and Fiat, even though France’s stake in Renault would automatically be diluted, French Finance Minister Bruno Le Maire told RTL radio on Tuesday. FILE PHOTO: John Elkann, Chairman of Fiat Chrysler Automobiles (FCA), attends the presentation of the Science… Continue reading France insists any Renault/Fiat deal must protect French jobs: Le Maire
Renault to decide next week whether to proceed with FCA merger talks -sources
PARIS, May 27 (Reuters) – Renault board members will meet informally for work sessions within days with a view to a decision early next week on whether to go ahead with Fiat Chrysler merger talks, two sources with knowledge of the matter said. The board is likely to decide next week on whether to sign… Continue reading Renault to decide next week whether to proceed with FCA merger talks -sources
Adjudicator says any security defence of US auto tariffs at WTO “very difficult”
GENEVA (Reuters) – The United States will find it “very difficult” to defend President’s Donald Trump’s proposed car tariff against any challenge at the World Trade Organization, a veteran trade adjudicator who has ruled on a related case told Reuters. FILE PHOTO: Workers assemble vehicles on the assembly line of the SEAT car factory in… Continue reading Adjudicator says any security defence of US auto tariffs at WTO “very difficult”
Fiat Chrysler and Renault pursue $35 billion merger to combat car industry upheaval
MILAN/PARIS (Reuters) – 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. If it goes ahead, the $35 billion-plus tie-up would alter the landscape for rivals including General Motors and Peugeot maker PSA Group, which… Continue reading Fiat Chrysler and Renault pursue $35 billion merger to combat car industry upheaval
Fiat’s experience with Chrysler shows Renault deal can work – FCA chairman
MILAN, May 27 (Reuters) – Fiat’s experience with Chrysler shows the scope of what Fiat Chrysler (FCA) could achieve in the next few years if a proposed merger with Renault went through, the chairman of the Italian-American car maker said on Monday. “Based on the experience with Chrysler in these past 10 years, I’m very… Continue reading Fiat’s experience with Chrysler shows Renault deal can work – FCA chairman
Factbox: Auto industry consolidation – mega-mergers and alliances
FRANKFURT (Reuters) – Italian-American carmaker Fiat Chrysler on Monday proposed a merger of equals with France’s Renault in a deal that could create the world’s third-biggest carmaker and trigger a fresh round of industry consolidation. FILE PHOTO: The logo of French car manufacturer Renault is seen at a dealership of the company in Illkirch-Graffenstaden near… Continue reading Factbox: Auto industry consolidation – mega-mergers and alliances
FCA, Renault deal could take more than one year to be finalised – CEO to employees
MILAN, May 27 (Reuters) – It could take more than one year for Fiat Chrysler and Renault to finalise a proposed merger of the two companies, FCA group’s chief executive told employees on Monday in a letter seen by Reuters. Fiat Chrysler has made a “transformative” merger proposal to its French rival, the Italian-American carmaker… Continue reading FCA, Renault deal could take more than one year to be finalised – CEO to employees