Deal would create world’s third-largest automaker and ‘save €5bn a year’ by sharing research
Fiat Chrysler has proposed a 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 merged company would produce 8.7m vehicles annually and save €5bn ($5.6bn or £4.4bn) each year by sharing research, purchasing and other activities, according to a statement released by Fiat Chrysler Automobiles (FCA). It said the deal would involve no plant closures but did not address potential job cuts.
Continue reading...from The Guardian http://bit.ly/2Qpry1I
