Finance

Mega car firm touted

SPANISH car workers at Renault’s factories in Palencia and Valladolid will be watching with interest, and some concern, as their employer enters into talks about a possible merger with Italian Giant Fiat. The move, which will create the third biggest car firm in the world, is being discussed as the car industry faces huge financial fallout from the compulsory move towards electric vehicles and the increasing prospect of self-driving vehicles. The thinking is that one company could share the huge development costs, which many fear will cripple smaller manufacturers. In fact, if this move does go ahead, it could be the first of many such mergers, the biggest change for the motor industry since the first Model T Ford rolled off the factory line over a century ago.

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