Fiat Chrysler and Peugeot join forces to create world’s No.4 carmaker

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Fiat Chrysler and Peugeot join forces to create...
 © In-Cyprus 2020
Fiat Chrysler and Peugeot’s owner PSA said on Thursday they would join forces through a 50-50 share swap to create the world’s fourth-largest automaker.

The boards of the two groups have mandated their respective teams to finalise discussions and reach a binding memorandum of understanding in the coming weeks, the two automakers said in a joint statement.

FCA’s Chairman John Elkann will chair the combined group, while Peugeot’s Chief Executive Carlos Tavares will be the new CEO.

The deal comes at a time when car makers are grappling with a...


This article was automatically added to our system 31-10-2019

Fiat Chrysler and Peugeot join forces to create world’s No.4 carmaker


The contents of this article including any associated images are © In-Cyprus 2020
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