Fiat Chrysler, PSA Peugeot boards approve merger

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 99%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The boards of Fiat Chrysler and PSA Peugeot have approved merging the two companies to create the world's fourth-largest automaker with a value of about US$50 billion.

The formal announcement that the companies have agreed "to work towards a full combination of their respective entities by way of a 50/50 merger" came early Thursday.

The combined companies will be able to share in the cost of developing electric and autonomous vehicles. They'll also share vehicle technology and save money with greater purchasing power. The merger decision comes about five months after a similar deal with French automaker Renault fell apart.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines