Last year, two giant groups in the automotive industry, PSA and FCA, decided to merge. This merging process, which is already slow, has reached almost to a halt due to the corona virus outbreak. There were even rumors that the agreement was canceled. But Carlos Tavares, chief executive officer of the PSA group, said the agreement was not canceled. He even said that the merger process of the PSA and FCA groups has been accelerated.
The two groups have already agreed on many issues, according to Carlos Tavares, chief executive officer of the PSA group. Noting that they continue to work intensively for the adaptation process, Tavares also stated that the automotive giants' acceleration to the merger process.
What PSA and FCA Groups Merged ZamDecided the moment?
On October 31, 2019, Groupe PSA announced that it is planning to merge with Fiat Chrysler Automobiles. Also, the merger will be on the basis of 50-50 shares. Later, the FCA and PSA groups announced on December 18, 2019 that they accepted the merger terms of $ 50 billion.
If both groups corona virus comes out of the crisis undamaged and manages to merge. This merger will create the world's fourth largest producer.
About FCA Group (Fiat Chrysler Automobiles)
Fiat Chrysler Automobiles NV (FCA) is an Italian-American automotive company. The company was founded in 2014 as a result of the merger of Italian Fiat and American Chrysler, and is the seventh-largest automaker in the world. FCA is traded on the New York Stock Exchange and the Italian Stock Exchange. It is registered in the Netherlands and is located in central London.
Fiat Chrysler Automobiles' brands operate through two main subsidiaries, FCA Italy and FCA US. The owner of FCA, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram Trucks, Abarth, Mopar, SRT, Maserati, Comau, Magneti Marelli and Teksid. Today, FCA operates in four regions (NAFTA, LATAM, APAC, EMEA).
About PSA Group (Peugeot Société Anonyme)
PSA is the 2nd largest automaker in Europe. It was established in France in 1976. Its name is the abbreviation of Peugeot Société Anonyme. It includes many brands such as Peugeot, Citroën, DS, Opel and Vauxhall. Wikipedia