Tuesday 25 June 2019

Fiat-Chrysler on verge of tie-up deal with Renault

Talks between Fiat and Renault have accelerated in recent days. Photo: AFP/Getty Images
Talks between Fiat and Renault have accelerated in recent days. Photo: AFP/Getty Images

Tommaso Ebhardt

Fiat-Chrysler is poised to announce a tie-up with French car-maker Renault as early as today.

The deal, which sources say may include an exchange of equity, will pave a path for the Italian-American company to eventually become part of the Renault-Nissan alliance.

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Nissan is not involved at this stage but the transaction would allow the car makers to join forces later.

The talks have moved ahead despite tensions between Renault and Nissan, illustrating the intense pressure facing car makers to combine efforts and investments.

With sales falling in the world's biggest markets, motor manufacturers are being increasingly pushed by regulators to electrify and reduce fleet emissions.

At the same time, the car makers have been forced to spend heavily on self-driving technology or risk getting left behind by new, deep-pocketed competitors such as Alphabet's Waymo.

Talks between Fiat and Renault have accelerated in recent days. (©Bloomberg)

Irish Independent

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