New auto giant? Fiat Chrysler wants to merge with Renault
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May 26, 2019
PARIS (AP) — Fiat Chrysler proposed on Monday to merge with France's Renault to create the world's third-biggest automaker, worth $40 billion, and combine forces in the race to make electric and autonomous vehicles.
The merged company would reshape the global industry: it would produce some 8.7 million vehicles a year, leapfrogging General Motors and trailing only Volkswagen and Toyota.
Shares of both companies jumped on the news of the offer, which would see each side's shareholders split ownership in the new manufacturer.
Renault welcomed what it called a "friendly" offer. The company's boar...
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