Fiat Chrysler Chief Executive Mike Manley will remain with the new group set to result from a planned merger with French rival PSA-Peugeot , Chairman John Elkann said on Wednesday. In a letter to Fiat Chrysler (FCA) employees on the day the two companies announced a binding agreement for a $50 billion tie-up to create the world's fourth-largest carmaker, Elkann said he was "delighted" that the combined group would be led by current PSA CEO Carlos Tavares. "And Mike Manley, w
A compromise could also be made to share technologies.
The deal has now moved to Renault's board of directors for review.
If approved, the combined company would be headquartered near Paris.
"Many details need to be worked out" before Nissan solidifies its position.
Where exactly would Nissan fit into all of this?
Alliance not discussing full merger.
Nissan and Renault have been tied together as an alliance for nearly 20 years, but now the Japanese and French automakers are discussing whether to merge. Bloomberg, citing unidentified sources familiar with the confidential talks, reports that the idea is to form a single publicly traded company to better compete against giants like Toyota and Volkswagen.
"The primary focus is the execution of the plan," he said.
It wasn't without controversy, but at last the deal is done.
Sergio Marchionne is very publicly seeking a merger between FCA and GM. It may work out well for him, but is it the right choice for the long haul?
Spyker has exited bankruptcy protection in the Netherlands, and is now preparing to merge with Portland-based electric aircraft manufacturer Volta Volaré.
Rebuffed in his advances, Fiat Chrysler chief Sergio Marchionne is now reportedly turning to activist investors to compel General Motors into considering a merger.