Fiat Chrysler Automobiles has made a "transformative merger" proposal to French peer Renault, FCA said on Monday. The deal would create an automaker with a strong presence across key regions, automotive markets and technologies, generating 5 billion euros ($5.6 billion) in annual savings, FCA said in a statement.
The "broad and complementary brand portfolio would provide full market coverage, from luxury to mainstream," FCA said.
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