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The main rationale is the emergence of a Franco-German European champion able to compete with China’s state-owned CRRC giant. The new European champion will have a combined turnover of €15bn, about half the market share of CRRC
Alstom has just under 33,000 employees Europe'sworldwide, just over the Siemens Mobility section of 29,000.
Siemens will own 50% of Alstom, gaining a 0,5% controlling stake over the next four years. The French government backs the Paris-based company and will be placing a major multi-billion Euro order for over 100-next generation TGV trains over the next three months.
Alstom employs 32,800 people worldwide. Siemens Mobility has 28,800 staff members.
Read more: Franco-German deal creates European high-speed railway champion