A Jeep Renegade 4x4 e is offered on the Geneva Motor Present March 5, 2019. Signage within the background says"'FCA Fiat Chrysler Cars," to which J
A Jeep Renegade 4×4 e is offered on the Geneva Motor Present March 5, 2019. Signage within the background says”‘FCA Fiat Chrysler Cars,” to which Jeep belongs.
Uli Deck | image alliance | Getty Photos
Peugeot (PSA) and Fiat Chrysler (FCA) confirmed their intention to merge on Thursday, in what could be a 50-50 share swap and create the world’s fourth-largest carmaker.
The brand new firm’s shares might be listed in New York, Paris and Milan with FCA’s John Elkann turning into the chairman and Peugeot’s Carlos Tavares turning into the CEO. The proposed tie-up would reportedly create an trade behemoth with 8.7 million car gross sales, $190 billion in turnover and a mixed 400,000 workers.
“Discussions have opened a path to the creation of a brand new group with international scale and assets owned 50% by Groupe PSA shareholders and 50% by FCA shareholders,” they stated in a joint statement on Thursday morning.
“In a quickly altering setting, with new challenges in related, electrified, shared and autonomous mobility, the mixed entity would leverage its robust international R&D (analysis and growth) footprint and ecosystem to foster innovation and meet these challenges with velocity and capital effectivity.”
Early stories of the merger talks — which might create a brand new group value roughly $50 billion — have moved share costs for each automakers this week….