Fiat Chrysler presents plan for merger with Renault

MILAN: Italian-US auto giant Fiat Chrysler presented a merger proposal to France's Renault on Monday that would create the world's third largest automaker.

Monday's board session would merely examine whether or not to explore the offer on the table, the source said. The Renault-Nissan-Mitsubishi alliance currently makes around 10.8 million automobiles, compared with Germany's Volkswagen and Japan's Toyota, both on around 10.6 million. Renault meanwhile has pushed ahead in electric cars but is relatively weak in North America so the two companies would be a good fit.

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