MILAN/PARIS (Reuters) – Fiat Chrysler and Renault are in talks on a comprehensive global tie-up that could address some of the main weaknesses of both carmakers, two sources with knowledge of the discussions told Reuters on Saturday.
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at its U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File Photo
The talks are at an advanced stage, the sources said. The Financial Times on.ft.com/2HRDghE earlier reported that FCA and Renault were discussing a deal to forge “extensive ties” to tackle structural challenges facing the global auto industry.
A spokesman for FCA declined to comment on the report. Renault spokesman Frederic Texier said the French carmaker had no comment.
Pressure for consolidation among carmakers has grown with the challenges posed by electrification, tightening emissions regulations and investment-thirsty technologies for connected and autonomous vehicles.