Fiat Chrysler Automobiles (FCA) said that new US pickup truck models would help the automaker achieve its 2019 profit targets and offset a weak performance in the first quarter. Sticking to its previous forecast, which calls for a full-year 2019 adjusted pre-tax profit of more than 6.7 billion euros ($7.48 billion),
Fiat Chrysler (FCA) plans to spend 700 million euros ($788 million) to boost the ‘Fiat 500’ electric production as the carmaker moves on from its failed $35 billion bid to merge with France’s Renault, a pioneer in electric vehicles.
Renault’s board of directors will meet Tuesday to formulate its response to a merger proposal by Fiat Chrysler, which is likely to lead to talks aimed at creating the world’s third-largest automaker, the company said.
Fiat Chrysler has made a “transformative” all-share merger proposal to French rival Renault, the Italian-American carmaker said on Monday, in a deal to create a new third-ranked global manufacturer.
Global shares climbed on Monday as investors snapped up automaker stocks following confirmation of merger talks between Fiat Chrysler and Renault, and after pro-EU parties kept a firm grip on power in elections to the European Parliament.
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.
Fiat Chrysler’s top shareholder Exor will have a total of 3.6 billion euros ($4 billion) in 2022 to invest once a deal to merge the carmaker with rival Peugeot goes through, Exor’s chief John Elkann said.
Peugeot-maker PSA and Fiat Chrysler unveiled on Thursday their plan for a 50-50 merger that aims to create the world’s fourth-largest car manufacturer, but quickly came under pressure to preserve jobs.
Fiat Chrysler Automobiles (FCA) and Peugeot maker PSA have reached a binding agreement over a roughly $50 billion merger that will reshape the global car industry.