Peugeot and Fiat Chrysler Officially Announce Their Merger

PSA Peugeot and Fiat announced their merger Chrysler on Wednesday, December 18.

Now they are finalizing all the conditions for a 50-50 merger. If successful, their company could become the fourth largest car manufacturer in the world. The merger has yet to be approved by the antitrust authorities, DW reports.

Peugeot and Fiat Chrysler Officially Announce Their Merger photo 2

In a joint statement, the companies said that the new company group will be headed by PSA CEO Carlos Tavares, and Fiat Chrysler CEO John Elkann will chair the merged company. The conglomerate’s new name is still unknown. Also, their representatives have not yet announced which platform of the two manufactures will be used for producing cars.

The new conglomerate already plans to sell 8.7 million cars a year. Only Volkswagen, Toyota and the French-Japanese Renault-Nissan group sell more than this.

The company group will have an annual turnover of almost €170 billion and annual revenue from operations of more than €11 billion — without Magneti Marelli and Faurecia.

The PSA Group includes Citroën, Faurecia, Peugeot Motorcycles, Banque PSA Finance, Peugeot Citroën Moteurs (PCM), Process concept Ingénierie (PCI), DS Automobiles. In 2017, the group acquired the German company Opel and British Vauxhall.

Fiat Chrysler owns Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram Trucks, Abarth, Mopar and SRT, Maserati, COMAU, Magneti Marelli and Teksid.

Related News

Sign up or log in to post a comment