Tuesday, June 25, 2019
Home Business US media reports: Renault and Fiat Chryler negotiate about close cooperation

US media reports: Renault and Fiat Chryler negotiate about close cooperation

The auto companies Renault and Fiat Chrysler (FCA) negotiate according to US media, according to a closer cooperation.

The structural change in the industry is about the possibility to merge parts of the business, the Financial Times and the Wall Street Journal reported on the weekend.

It is possible, for example, that FCA joins the Renault car alliance with the Japanese manufacturers Nissan and Mitsubishi. However, there is no guarantee for the success of the negotiations, it was said.

According to the WSJ, talks have picked up pace since the arrest of former Renault chief Carlos Ghosn in Japan in November 2018. Ghosn had pushed for a merger of the French car maker with Nissan.

His successor, Jean-Dominique Senard, had initially denied it and called for closer cooperation within the Alliance. Nissan had rejected a merger.

Renault, in which the French state is involved, holds 43.4 percent of the shares in Nissan. Nissan has a 15 percent stake in Renault.

FCA also talks with its competitor Peugeot about a merger, the negotiations with Renault but were more advanced, it said at the "FT". Accordingly, the two companies would complement each other well: FCA is mainly represented in the important North American market – unlike Renault. FCA boss Mike Manley had previously told FT that he was open to any "partnership, merger or relationship that makes us stronger."


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