A revival of merger discussions between Fiat Chrysler Automobiles and Groupe Renault will hinge on Nissan supporting the deal. Talks between the two automakers regarding a prospective $35 billion merger abruptly ended a couple weeks ago when FCA blamed political conditions in France. According to Automotive News Europe talks ended largely because the French state was unwilling to support the deal without… Read More...
Volkswagen employees in Chattanooga, Tennessee have voted against an attempt at unionizing VW's only U.S. assembly plant. The rejection serves as a blow to the United Auto Workers union, which is slated to commence negotiations with U.S. automakers soon. The Tennessean reports the vote was close, 833 to 776, rejecting unionization. Today VW employs about 1,700 workers and 3,200 temporary workers… Read More...
Volkswagen Group is close to an agreement with Ford Motor Company regarding cooperation between the two on electric vehicles and autonomous vehicles. The move would further deepen an alliance between the two formed around shared production of commercial vehicles. News of furthering the alliance comes from Volkswagen Group CEO Herbert Diess, who said talks with Ford are “progressing well” and could be… Read More...
Fiat Chrysler Automobiles proposed and bailed on a potential merger with French automaker Renault within the last week, but apparently Renault wasn't the first prospective partner the automaker entertained. In a new interview with Automotive News Ford Motor Company Executive Chairman Bill Ford confirmed he and the late FCA CEO Sergio Marchionne had several discussions regarding a perspective merger between the two… Read More...
Fiat Chrysler Automobiles and Renault are seeking ways to revive merger talks after FCA abruptly withdrew their proposed $35 billion merger with the French automaker. According to Reuters reviving the talks will depend upon gaining the support of Renault's alliance partner Nissan Motors, which did not happen during the initial proposal. Renault currently has a 43 percent stake in Nissan, while Nissan… Read More...
Back in April General Motors CEO Mary Barra confirmed during an earnings call that the company is working on a battery-electric pickup truck. Now, GM is reiterating its commitment to battery-powered trucks by way of company president Mark Reuss. Reuss recently spoke to Wall Street investors at the UBS Global Industrials and Transportation Conference, where he confirmed the company's first battery-electric… Read More...
In a dramatic turn of events this evening, Fiat Chrysler Automobiles has formally withdrawn its proposal to merge with Groupe Renault. The withdraw is credited to "politics" within the French government, which owns a 15 percent stake in Renault. Minutes ago FCA issued a press release confirming the FCA board of directors met this evening to discuss the proposed merger.… Read More...
Fiat Chrysler Automobiles has compromised with the French state regarding its demands for a propose merger with French automaker Renault. The compromises should allow the deal to move forward, pending no other roadblocks are issued. The French government had been pressing Renault and FCA to guarantee it a seat on the board of directors of the new entity. They were… Read More...
Fiat Chrysler Automobiles is allegedly working on a revised merger plan with Renault. The revisions are centered around a list of demands from the French government, such as job guarantees and the locations of the company's headquarters. Reuters reports FCA is revising the merger offer to include a special dividend for Renault in the new company, a perk likely intended to… Read More...
Renault is expected to hold a board meeting as early as this Tuesday to discuss a merger proposal set fourth by Fiat Chrysler Automobiles. The proposal was submitted to Renault last week by FCA with the next steps resting on Renault's response. Japanese publication Nikkei reports the Renault board of directors will meet this week and likely participate in a… Read More...
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