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.
Michelin, the world’s leading tyre technology company, announced the launch of the Michelin Primacy 5 in India, its latest premium tyre engineered for sedans and SUVs. Marking a significant milestone ...
Eurogrip Tyres, India’s leading 2 & 3-wheeler tyre brand from TVS Srichakra Ltd., launched their international adventure touring range - Trailhound STR in India. The product line was launched by Eurog...
Studds Accessories announced the launch of the Raider Youth, a new full-face helmet model built for young riders and petite adults. Launching first in the Unicolor variant, it marks the entry of a ded...