The proposal stems from discussions between both companies to identify products and geographies in which they could collaborate.
FCA says the case for combination is strengthened by the need to take bold decisions to capture opportunities such as connectivity, electrification and autonomous vehicles (AVs).
The combined business is expected to sell approximately 8.7 million vehicles annually as well as lead in electric vehicle (EV) technologies.
Reports suggest that France’s finance minister Bruno Le Maire is seeking to protect local jobs and ensure that no factories in the country shut down if the <%$Linker:
Speaking to RTL Radio, he described the plan as a good opportunity for Renault and the European car industry but emphasised that the government would seek guarantees in exchange for backing the deal.
These include the preservation of industrial jobs at French sites, for the country to be well represented on the board of the new company, for it to lead in the development of electric batteries and for the deal to take place within the framework of the existing alliance between Renault and
