Timeline - Fiat Chrysler and Peugeot merger talks mark next round of consolidation
FRANKFURT (Reuters) - Fiat Chrysler and France's Peugeot said they are in talks about a potential tie-up, the latest bout of auto industry consolidation as the costs of developing zero-emissions vehicles rises amid slowing global demand. Following is a chronology of the industry's most important alliances and merger deals: October 2019 - Fiat Chrysler and Peugeot confirm talks over a potential $50 billion tie-up. May 2019 - FiatChrysler proposes a merger of equals with French rival Renault but later withdraws the idea after the French government demands concessions
FRANKFURT (Reuters) - Fiat Chrysler
Following is a chronology of the industry's most important alliances and merger deals:
October 2019 - Fiat Chrysler and Peugeot confirm talks over a potential $50 billion tie-up.
May 2019 - FiatChrysler proposes a merger of equals with French rival Renault but later withdraws the idea after the French government demands concessions.
October 2018 - Honda Motor Co says it will invest $2.75 billion and take a 5.7% stake in General Motors Co's Cruise self-driving unit.
June 2018 - Ford and Volkswagen unveil an alliance in commercial vehicles, though they say they have no plans for an equity swap or cross-ownership structure.
February 2018 - Geely Chairman Li Shufu reveals he has bought a 9.69% stake in Mercedes-Benz parent Daimler worth around $9 billion.
January 2018 - Mazda and Toyota say they will open a $1.6 billion joint venture factory in Alabama in 2021. Toyota takes a 5% stake in Mazda as part of the deal.
August 1, 2017 - General Motors sells European brands Opel and Vauxhall to PSA for 2.2 billion euros.
May 2016 - Nissan buys 34% stake in Mitsubishi Motors, handing it de facto control in a $2.2 billion deal.
January 2016 - Toyota, which already owned 51.2% of Daihatsu, buys the rest in an all-stock deal worth $3 billion.
September 2015 - FiatChrysler's Marchionne emails GM chief Mary Barra asking her to explore a combination of the two carmakers but is rebuffed.
April 2015 - French state ups Renault stake to 19.74% from 15% in a deal designed to block efforts by Nissan to increase its influence over Renault.
January 2014 - Fiat buys 41.46% of Chrysler it did not already own in a $4.35 billion deal.
July 2012 - Volkswagen takes control of Porsche.
April 2010 - Renault-Nissan boss Carlos Ghosn and Daimler CEO Dieter Zetsche unveil arms-length alliance including cross-shareholdings of around 3%.
March 2010 - China's Zhejiang Geely Holding buys Volvo cars from Ford $1.8 billion.
2008 - India's Tata buys Jaguar and Land Rover from Ford for $2.3 billion.
2007 - Daimler sells 80% stake in Chrysler to private equity firm Cerberus for 5.5 billion euros.
March 2000 - Ford buys Land Rover from BMW for $2.7 billion.
March 2000 - BMW sells Rover but retains ownership of Mini.
March 1999 - Renault and Nissan sign an alliance which results in Renault holding a 44.4% stake in Nissan, while Nissan bought 15% of Renault shares.
January 1999 - Ford buys Sweden's Volvo cars for $6.45 billion.
September 1998 - Volkswagen buys Lamborghini.
July 1998 - Volkswagen buys Bentley and Bugatti.
May 1998 - Daimler-Benz buys Chrysler for $36 billion.
January 1994 - BMW buys Rover Group for 800 million pounds.
December 1990 - Czech government allows Volkswagen to buy Skoda.
June 1986 - Volkswagen buys 51% of Seat.
(Reporting by Edward Taylor; Editing by David Holmes)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.