Tag: Renault

Fiat Chrysler and Renault are in advanced talks to merge the automakers

FILE PHOTO: The logo of FIAT carmaker is seen on a vehicle in Cairo, Egypt, May 19, 2019. Picture taken May 19, 2019. REUTERS/Mohamed Abd El Ghany/File PhotoMohamed Abd El Ghany | ReutersFiat Chrysler and Renault are in advanced talks to merge the two automakers.
Sources say the talks, which have been happening over the last several weeks, have picked up speed in recent days and could lead to an announcement regarding a merger or partnership as soon as tomorrow.
The CEOs of both automakers have made it clear they are open to partnerships with other automakers that would give them the economies of scale to further cut costs both in terms of manufacturing as well as in developing vehicles. The move could be especially beneficial in Europe where auto sales overall are under pressure.
During Fiat Chrysler's most recent earnings call, CEO Mike Manley was asked about the possibility of merging with another automaker. “We have made it clear in the past that we want to be active and proactive to develop our business and improve the value for our shareholders,” Manley told analysts. “We are going into an environment where there are going to be opportunities.”
Meanwhile, under former CEO Carlos Ghosn, Renault was increasingly interested in a full merger with Nissan, its partner in an alliance that has delivered mixed results. When the two automakers first formed their alliance in the late 1990s, the combination helped Nissan cut losses and ultimately become a highly profitable automaker. These days there's growing tension between Nissan and Renault since the arrest and detention of Ghosn late last year. Japanese authorities have charged Ghosn with a number of crimes relating to his tenure as CEO of the Nissan-Renault alliance.
Whether Fiat Chrysler ultimately joins the Nissan-Renault alliance is unclear.
A partnership between Fiat Chrysler and Renault would also help the automakers pool resources for the development of electric and autonomous vehicles. Renault's EV program is considered to be more advanced than Fiat Chrysler's, but neither automaker is considered a leader in electric vehicles.
A spokesperson for Fiat Chrysler would not comment when reached by CNBC. Renault could not immediately be reached for comment.

Fiat Chrysler and Renault expected to announce tie-up talks

Fiat Chrysler Renault board reportedly plans to go public with partnership after a meeting on Monday morning Any tie-up between the two companies would be likely to face political and workforce hurdles, particularly in Italy Photograph: Marco Bertorello/AFP/Getty Images Fiat Chrysler and Renault are expected to announce on Monday that they are in talks on… Continue reading Fiat Chrysler and Renault expected to announce tie-up talks

Carmakers FCA and Renault to go public on tie-up talks

MILAN/PARIS (Reuters) – Fiat Chrysler and Renault are set to confirm tie-up talks on Monday, with the board of the French carmaker called to an early morning meeting to discuss the situation. FILE PHOTO: The logo of FIAT carmaker is seen on a steering wheel in Cairo, Egypt, May 19, 2019. Picture taken May 19,… Continue reading Carmakers FCA and Renault to go public on tie-up talks

FCA and Renault to go public on potential tie-up

MILAN/PARIS (Reuters) – Fiat Chrysler and Renault are set to confirm talks on a potential tie-up on Monday, with the board of the French carmaker called to an early morning meeting to discuss the situation. FILE PHOTO: The logo of FIAT carmaker is seen on a steering wheel in Cairo, Egypt, May 19, 2019. Picture… Continue reading FCA and Renault to go public on potential tie-up

Details on FCA/Renault talks set to emerge on Monday

FILE PHOTO: The logo of FIAT carmaker is seen on a steering wheel in Cairo, Egypt, May 19, 2019. Picture taken May 19, 2019. REUTERS/Mohamed Abd El Ghany/File Photo MILAN/PARIS (Reuters) – Fiat Chrysler is likely to make an announcement about its talks on a potential tie-up with rival Renault on Monday, two sources told… Continue reading Details on FCA/Renault talks set to emerge on Monday

Fiat Chrysler and France’s Renault are in talks to form a partnership

A row of Fiat Chrysler Automobiles (FCA) 2017 Crysler Pacifica minivan vehicles are displayed for sale at a car dealership in Moline, Illinois, on Saturday, July 1, 2017.Daniel Acker | Bloomberg | Getty ImagesFiat Chrysler and Renault are in discussions to form a partnership, a source familiar with the talks told CNBC.
The Italian-American and French automakers are looking at a number of opportunities that would have the companies working together in the future, the source said.
It is unclear if a partnership between the two automakers would lead to Fiat Chrysler eventually joining the Nissan-Renault-Mitsubishi alliance.
Fiat Chrysler declined CNBC's request for comment. Renault could not be immediately reached for comment.
The Financial Times first reported the story.
Back in March, The Financial Times reported that Renault planned to take up merger talks with Nissan within the year, and then potentially acquire Fiat Chrysler.
Fiat Chrysler's chief executive, Mike Manley, previously told the FT: “If there's a partnership, merger, relationship that makes us stronger, then I'm absolutely open to looking at it.”
If Fiat Chrysler is added to the Renault-Nissan-Mitsubishi Alliance, which dates back to 1999, it would become the largest global carmaker, with 15.6 million combined sales a year. The current leader, Volkswagen, sold 10.8 million last year.

Fiat Chrysler in talks over ties with Renault: source

FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at its U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File Photo MILAN (Reuters) – Italian carmaker Fiat Chrysler Automobiles NV is in talks to form ties with Renault SA, a person familiar with the matter said on Saturday. It was too… Continue reading Fiat Chrysler in talks over ties with Renault: source