The merger of the Italian-American car company with its French rival, agreed last year, is aimed at creating a carmaker with the scale to confront the challenges of stricter emissions regulations and the transition to new driving technologies. The new company will be called Stellantis.
The boards of the two companies signed cross-border terms of the deal that will allow Groupe PSA to sell a small stake in the French automotive supplier Faurecia, in a bid to facilitate regulatory approval,The completion date for the merger is in line with the original time frame, despite the impact of the coronavirus pandemic. The new company will have the capacity to produce 8.7 million cars a year, just behind Volkswagen, the Renault-Nissan alliance and Toyota.
Peugeot and Fiat - 2 brands that had short lives in North America - now auto curiosities here ... perhaps adding Citroen to the corporate mix is next ? ;-)
I feel like we've spent my life busting up 'monopolies' just to come back full circle to a few companies owning everything. Lots of progress in 30 years.
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