Fiat Chrysler proposes merger with Renault to reshape car industry

Deal would create world’s third-largest automaker and ‘save €5bn a year’ by sharing research

Fiat Chrysler has proposed a €32.6bn (£28.3bn) merger with France’s Renault that would create the world’s third-largest carmaker and save billions needed to invest in the race to make electric and autonomous vehicles.

The combined company would produce 8.7m vehicles annually and save €5bn (£4.4bn) a-year by sharing research, purchasing and other activities, according to Fiat Chrysler Automobiles (FCA). The Italian-American firm said the deal would not involve plant closures but did not rule out job cuts.

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from US news | The Guardian http://bit.ly/2Qpry1I