Renault in team-up talks with Fiat Chrysler

PARIS: French carmaker Renault is in talks with Fiat Chrysler Automobiles with the long-term prize a world-leading alliance including Japan’s Nissan and Mitsubishi, reports say. The Financial Times posted Saturday night that the discussions were at an “advanced” stage and could lead to “extensive cooperation”. The Wall Street Journal said the talks were “wide-ranging” and could include Renault and Fiat Chrysler “joining large portions of their businesses”.

However, The New York Times said the discussions were in early stages, the specifics unclear and “could still collapse”. The Financial Times, quoting multiple people informed on the talks, said: “The agreement may ultimately lead the carmaker (Fiat-Chrysler) to join the Renault-Nissan-Mitsubishi Alliance in the future,” if Nissan could be won over. Such an automaker alliance would become the world’s biggest, a title Renault-Nissan-Mitsubishi currently vies for with Germany’s Volkswagen. Renault holds 43 per cent of Nissan which in turn owns 15 per cent of its French partner Renault. — AFP