Automotive giants Peugeot and Fiat announce plans for merger

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by Jessica Tabinor on

    INDUSTRY NEWS | 3 MIN READ

  • Peugeot and Vauxhall maker PSA has agreed on plans for a merger with Fiat Chrysler that would create the world's fourth-largest carmaker.

  • In a joint statement, the car manufacturers announced that the merger would allow the companies to better tackle the growing technological and regulatory challenges that face the industry.

Peugeot and Vauxhall maker PSA has agreed on plans for a merger with Fiat Chrysler that would create the world's fourth-largest carmaker with a combined revenue of nearly €170bn and a recurring operating profit of over €11bn.

In a joint statement, the car manufacturers announced that the merger would allow the companies to better tackle the growing technological and regulatory challenges that face the industry.

FCA brands include Alfa Romeo, Chrysler, Fiat, Jeep, Lancia and Maserati. While Group PSA has five car brands: Peugeot, Citroën, DS, Opel and Vauxhall.

The companies said:

“In a rapidly changing environment, with new challenges in connected, electrified, shared and autonomous mobility, the combined entity would leverage its strong global R&D footprint and ecosystem to foster innovation and meet these challenges with speed and capital efficiency."

search morson jobsMike Manley, FCA’s chief executive, said:

“I’m delighted by the opportunity to work with Carlos and his team on this potentially industry-changing combination. We have a long history of successful cooperation with Groupe PSA and I am convinced that together with our great people we can create a world-class global mobility company.”

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Most of the biggest players in the industry are making changes. Volkswagen and Ford are working together to develop electric and self-driving vehicles, while German carmakers BMW and Daimler have formed a joint venture that will develop driverless technology.

Carlos Tavares, chief executive officer of Groupe PSA said:

“This convergence brings significant value to all the stakeholders and opens a bright future for the combined entity. I’m pleased with the work already done with Mike and will be very happy to work with him to build a great company together.”


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