Fiat Chrysler and PSA get EU nod for $38bn merger

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The deal will create the world’s fourth biggest carmaker with the merged entity to be called Stellantis

A Fiat Chrysler Automobiles sign at the headquarters in Auburn Hills, Michigan, the US. Picture: REUTERS/REBECCA COOK

The two carmakers are looking to the deal to help them tackle the industry’s dual challenges of funding cleaner vehicles and the pandemic. “Access to a competitive market for small commercial vans is important for many self-employed and small and medium companies throughout Europe,” European Competition Commissioner Margrethe Vestager said in a statement.

The merged entity, to be called Stellantis, will own brands such as Fiat, Jeep, Dodge, Ram and Maserati as well as Peugeot, Opel and DS.

 

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