The Board of Fiat Chrysler Automobiles which met under the Chairmanship of John Elkann, has resolved to withdraw with immediate effect its merger proposal made to Groupe Renault.
The press statement said that FCA remains firmly convinced of the compelling, transformational rationale of a proposal that has been widely appreciated since it was submitted, the structure and terms of which were carefully balanced to deliver substantial benefits to all parties. However it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully.
FCA expresses its sincere thanks to Groupe Renault, in particular to its Chairman and its Chief Executive Officer, and also to the Alliance partners at Nissan Motor Company and Mitsubishi Motors Corporation, for their constructive engagement on all aspects of FCA’s proposal. FCA will continue to deliver on its commitments through the implementation of its independent strategy, the release added.
Harman Kardon has launched its Fit Speaker Series in India, a new collection of premium in-car speakers designed to enhance driving experiences with high-fidelity sound and cutting-edge technology.
Dolby Laboratories, a global leader in immersive entertainment experiences, and Mahindra & Mahindra announced the debut of Dolby Atmos in the Mahindra Thar Roxx AX7L variant.
Park+ Research Labs, India's only digital-first, data-driven survey platform, announced key findings from its latest city-focused survey.