Fiat proposes Renault merger in latest drive for scale

Fiat proposes Renault merger in latest drive for scale
Renault to study 'friendly' Fiat proposal'. Pic: Getty

Together, Fiat and Renault made about 8.7 million cars last year, which would put the pair past South Korea’s Hyundai and Detroit’s General Motors, but still behind Volkswagen and Toyota

Fiat Chrysler has proposed a merger with Renault to create the world’s third-biggest car maker as manufacturers scramble for scale to tackle an expensive shift to electrification and autonomous driving.

The transaction would be structured as a 50-50 ownership through a Dutch holding company, Fiat said on Monday. Renault shareholders, including the French government, would get an implied premium of about 10 per cent. In...

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