(WXYZ) — French automaker Renault is looking to merge with Nissan Motor Company and then eventually Fiat Chrysler Automobiles, according to report from the Financial Times.
According tot he report, the French automaker is hoping to restart merger talks with Nissan int he next year, and then acquire FCA. The report cites several people familiar with the company's plans.
The report says that a new alliance board led by Renault chairman Jean-Dominique Senard has helped grow confidence that the merger plans can advance. The hope, according to the report, is that the company could then fight with Volkswagen and Toyota for global dominance.
Report: Renault wants merger talks with Nissan, FCA. I’m talking to @DavidZoia from @WardsAuto about the report, the potential impact to the companies and our community. @wxyzdetroit pic.twitter.com/rGh0FWaaNf
— Anu Prakash (@WXYZPrakash) March 27, 2019
It also states that the former Renault and Nissan chair, Carlos Ghosn, had held discussed merging with FCA two or three years ago, but it was stopped by the French government. Ghosn has been charged with financial crimes, but has denied the charges
According to the Financial Times report, FCA is seeking a partnership or merger, and the chairman, John Elkann, has met with several people about a deal. They also say that it's possible FCA will merge with another group before Renault and Nissan figure out their affairs.
Action News talked to Dave Zoia of Wards Intelligence. He's been an auto analyst for more than 30 years. He says that kind of merger isn't out of the question and could make sense in today’s ever changing and competitive market.
"There's good fit there. There's not a lot of product overlap not a lot of global overlap," he says.
We reached out to FCA about the report and a spokesperson said they had no comment.
