French government steps on the brakes regarding the merger with Renault / FCA withdraws offer / Fiat buys zero-emissions credits from Tesla
Disappointment is probably the prevailing emotion in Turin at the moment. Automotive group Fiat Chrysler Automobiles (FCA, Turin / Italy; has surprisingly withdrawn its merger offer for competitor Renault Nissan (Boulogne-Billancourt / France; – see of 30.05.2019 – after the French company's board postponed a decision to begin official talks. The crucial factor here was a request to that effect from representatives of the French government, which holds a 15% stake in Renault. Although Fiat is still convinced of the benefits of a merger, "it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully," said the company, explaining the withdrawal.

Fiat Chrysler had proposed setting up a new company, in which both parties would hold half the shares. The resultant economies of scale would have been able to save billions on the purchasing side, and in addition, the development costs for autonomous and electrically powered cars could have been shared.

Only recently, US media reported that Fiat Chrysler and also General Motors had purchased zero-emissions vehicle credits from Tesla in order to improve their climate footprint and partly also to be able to comply with future EU emissions regulations.
07.06.2019 [242668-0]
Published on 07.06.2019
Fiat / Renault: Frankreichs Regierung tritt bei Fusion auf die BremseGerman version of this article...

© 2001-2023  |  Imprint  |  Privacy  |  Cookie settings is a business information platform for the European plastics industry. It is part of KI Kunststoff Information and PIE Plastics Information Europe, one of the leading content providers for the European plastics industry. We offer daily updated business news and reports, in-depth market analysis, polymer prices and other services for the international plastics industry, including a suppliers guide, career opportunities, a trade name directory and videos.

News | Polymer Prices | Material Databases | Plastics Exchange | Suppliers Guide | Jobs | Trade Names | Videos | Associations & Institutions | Register | Advertising

PIE – Plastics Information Europe | KI – Kunststoff Information | KunststoffWeb | Plastics Material Exchange | Polyglobe | K-Profi
© 2001-2023 by, Bad Homburg
Date of print: 28.01.2023 17:33:37   (Ref: 677959960)
Text and images are subject to copyright and other laws for protection of intellectual property.
Any duplication or distribution in any media as a whole or in parts requires prior written approval by Plasteurope. URL: