Showing posts with the label #auto mergers

Big Global Automotive Merger News

$50 Billion Fiat Chrysler & PSA Peugeot Merger Combining to Share Electrification and Autonomous Technology Investment Costs On Wednesday, December 18, 2019 Fiat Chrysler and PSA Peugeot are expected to announce that they are merging the two global automotive companies.  The tie-up will create a $50 billion entity that will produce 8.7 million cars a year.  The combination will create the world's fourth largest automaker after Toyota, VW and the Renault-Nissan alliance. Source:  Fiat Chrysler Jeep Assembly Line PSA Likely in the Driver's Seat PSA Group CEO Carlos Tavares is expected to be the CEO of the new entity.  He's known as a cost cutter and brand turnaround expert at the French based PSA. He led Nissan America and has extensive knowledge of the US market.  Fiat Chrysler Chairman John Elkmann, whose family founded Fiat in 1899, is expected to be Chairman of the combined organizations. Electrification This merger is a strategic move