Fiat Chrysler Automobiles and Renault are reportedly in talks that could result in merging vast swaths of their businesses, a move that illustrates the growing desire among automakers to consolidate in an environment of increased regulatory pressure, sales declines and rising costs aimed at bringing next-generation technologies like self-driving cars to market.
Bloomberg, Financial Times, and the Wall Street Journal have reported on talks of a tie up that could result in Fiat Chrysler eventually becoming part of the Renault-Nissan Motor alliance. For now, the deal doesn’t include Nissan, according to Bloomberg.
FCA declined to comment.
Fiat Chrysler is best known in U.S. for the company behind the Jeep and Ram trucks. Its business is far larger. Fiat, which has a market value of $20 billion, is also one of Italy’s oldest companies and owns brands like Alfa Romeo, Fiat, Lancia, and Maserati .
Fiat acquired a stake in Chrysler … Read the rest