Fiat Chrysler confirms merger talks with Renault By –

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© -. FILE PHOTO: The brand of FIAT carmaker is seen on a car in Cairo

PARIS (-) – Fiat Chrysler has made a “transformative merger” proposal to French peer Renault (PA:), the Italian carmaker stated on Monday, in a deal which might create a world chief and assist handle a number of the weaknesses in each Renault and Fiat.

Fiat stated the mixed enterprise could be 50% owned by FCA shareholders and 50% owned by these of Renault.

Pressure for consolidation amongst carmakers has grown with the challenges posed by electrification, tightening emissions rules and costly new applied sciences being developed for linked and autonomous autos.

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