Tag: merger

By on February 10, 2020

Volvo Cars, cast off by a struggling Ford and subsequently picked up by an expansionist Geely 10 years ago, might forge closer ties with its Chinese parent. The relationship could become a marriage.

On Monday, Geely said the two companies have begun talks on turning the two entities into a combined automaker. (Read More…)

By on December 18, 2019

In the binding merger agreement signed Wednesday, Fiat Chrysler and PSA Group claim platform and technology sharing will account for 40 percent of the combined entity’s annual cost savings.

While the agreement made passing mention of two pieces of PSA architecture — platforms that will one day make up a full two-thirds of the merged company’s volume — nothing more was said of that particular plan. Still, it’s something worth talking about. (Read More…)

By on December 18, 2019

Regulatory and shareholder approvals will take some time, but the pending merger between Fiat Chrysler and France’s PSA Group is now chiseled in stone. The two automakers signed a binding combination agreement on Wednesday, positioning their respective companies for a 50:50 tie-up and the creation of the world’s third-largest automaker (by revenue).

Going by sales would make it the fourth-largest.

The move comes after the French government, which owns 12 percent of PSA, gave the deal ther green light, with the Peugeot family offering its own thumbs-up. (Read More…)

By on December 17, 2019

Italian-American auto giant Fiat Chrysler and French automaker PSA Group could sign a Memorandum of Understanding on Wednesday, if reports out of Europe prove true.

The two automakers embarked down the road to a 50:50 tie-up in October, with both partners aiming for an MoU before the end of the calendar year. This most recent report comes on the heels of various thumbs-up given by key players in the pending marriage. (Read More…)

By on November 26, 2019

Undaunted by General Motors’ racketeering lawsuit, Fiat Chrysler and partner Groupe PSA have told employees that the tentative $50 billion merger they agreed on last month will kick off in earnest in a matter of weeks.

The two automakers imply a binding agreement will be signed before year’s end — right on schedule. (Read More…)

By on November 19, 2019

Peugeot 208, Image: PSA Group

There’s a ways to go before Fiat Chrysler and France’s Groupe PSA officially slip the ring onto the other’s finger, but the engagement seems strong. Stronger, in fact, now that a majority of labor unions representing PSA workers have voiced approval for the proposed merger.

As the wedding day approaches, European labor bosses promise to dig through any and all agreements, searching for any clause or decision that might hurt their members. (Read More…)

By on November 8, 2019

There may still be a chance for a new Fifth Avenue. Carlos Tavares, CEO of France’s PSA Groupe and head of a future combined entity, claims the looming merger between his company and Fiat Chrysler will not leave dead brands scattered across the landscape.

There’ll still be a role for such flagging brands as, well, Fiat and Chrysler, the executive implied. It’s not hard to see how rumors of a brand cull could get started, considering this merger is all about finding efficiencies. (Read More…)

By on May 29, 2019

Will they or won’t they? That’s the question on everyone’s mind after Fiat Chrysler’s Monday morning proposition to French automaker Renault. A 50:50 pairing of equals, with Nissan and Mitsubishi shuffling awkwardly on the edge of the dance floor. To his credit, FCA Chairman John Elkann wants Renault’s alliance partners in on the deal.

According to a report out of Paris, Renault’s board will sit down within days to decide whether to pursue FCA’s offer. (Read More…)

By on May 28, 2019

fca

Perhaps sensing that Nissan and its alliance partner, Mitsubishi, feel like third wheels in the romancing of Renault by a merger-happy Fiat Chrysler, FCA Chairman John Elkann had kind words for the pair.

You’re appreciated. You’re valued. And you’re invited to the party. (Read More…)

By on May 28, 2019

Nissan has long felt like an unequal partner in its alliance with Renault, and has continually resisted pressure to strengthen its ties with the French automaker. With a potential merger between Fiat Chrysler and Renault now in the discussion phase, the Japanese automaker, having just suffered a year of sales and profit losses, finds itself staring down the barrel of further inequality.

Should the Italian-American and French companies merge, Nissan’s influence would shrink by half. Still, the automaker claims it’s open to discussion. (Read More…)

By on May 27, 2019

FCA Brampton Assembly Line Challenger & 300 - Image: FCA

Thirty-two years after Chrysler bought Renault’s controlling stake in AMC, absorbing the automaker and folding its French-developed passenger cars into the new Eagle brand, the automaker’s Fiat Chrysler successor is interested in a merger.

On Monday, Fiat Chrysler Automobiles submitted a proposal for a “transformative merger” with Groupe Renault. The 50:50 merger would create the world’s third-largest automobile company and generate $5.6 billion in annual savings, FCA claims — equal to efficiencies born of the Renault-Nissan-Mitsubishi Alliance. (Read More…)

By on October 17, 2018

Back in June, we brought you news that Ford Motor Company and Volkswagen AG seemed to be working on a relationship — potentially yielding jointly developed products aimed at the commercial sector. At the time, both companies issued a joint memorandum of understanding about potential product alliances.

With the Blue Oval’s stock price in the dumpster, Jim Hackett constantly nattering about “fitness,” and VW’s desire to increase its market share in America, it wouldn’t be the oddest of marriages if these two companies joined forces in more than just the commercial market.

Stranger things have happened … like DaimlerChrysler. Wait, that’s probably a bad example.

(Read More…)

By on June 29, 2018

FCA sign, Image: Fiat Chrysler Automobiles

Fiat Chrysler Automobiles won’t comment on a report claiming Hyundai Motor Group plans to launch a bid for the automaker, but that’s what sources with knowledge of the matter tell the Asia Times.

The sources claim HMG CEO Chung Mong-koo is biding his time, waiting for FCA’s stock to fall before moving forward on the potential takeover. Reportedly, Hyundai could launch the bid within months. (Read More…)

By on March 14, 2017

porsche-ceo-matthias-muller

Matthias Müller, CEO of Volkswagen Group, said in a press conference he hasn’t excluded the possibility of a merger with Fiat Chrysler Automotive.

Müller said, “There has been no contact at this point between (CEO of FCA) Mr. Marchionne and me, but I have never said I would exclude it.”

(Read More…)

By on June 23, 2016

tesla-model-s-logo

It was a little terrifying watching the question-and-answer session near the end of Tesla’s livestreamed annual shareholder’s meeting, and it wasn’t just the lady asking about goji berries.

All of the speakers — well, the majority of them — seemed to possess a stratospheric level of admiration for Tesla CEO Elon Musk. Like religious (or political) disciples, the trust they placed in the man’s brilliance and decision-making abilities seemed limitless.

Well, after this week’s announcement that Tesla is offering to buy SolarCity — a solar energy provider co-founded and chaired by Musk — cracks are forming in his circle of supporters, especially in the financial realm. (Read More…)

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