Wed, Jun 12, 2019 - Page 10 News List

Minister seeks Renault-Fiat revival

Reuters, PARIS

Plans to merge automakers Renault SA and Fiat Chrysler Automobiles (FCA) NV could re-emerge, despite the breakdown of negotiations last week, French Minister of Transport Elisabeth Borne said yesterday, joining a chorus of French officials hoping the deal could be revived.

Asked if talks between the two companies were over, Borne told BFM TV: “I think it is not closed.”

Borne’s comments follow similar remarks by French Minister of Finance Bruno Le Maire, who also said he felt that a merger between France’s Renault and Italian-US FCA remained a “good opportunity.”

PARIS BLAMED

Last week, FCA pulled out of US$35 billion merger talks with Renault, with both companies blaming the French government.

France has a 15 percent stake in Renault and the collapse of the talks deprived the companies of an opportunity to create the world’s third-biggest automaker with 5 billion euro (US$5.6 billion) in promised annual synergies.

Separately, FCA on Monday said that it would develop self-driving systems for its commercial vehicles in partnership with Aurora Innovation, a tech start-up led by a former Google auto executive.

Under the partnership, Aurora is to supply a self-driving platform that comprises the hardware, software, and data services that aim for “level 4” autonomy, which can navigate without human intervention.

“As part of FCA’s autonomous vehicle strategy, we will continue to work with strategic partners to address the needs of customers in a rapidly changing industry,” FCA chief executive Mike Manley said.

“Aurora brings a unique skillset combined with advanced and purposeful technology that complements and enhances our approach to self-driving,” he said.

This story has been viewed 1449 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top