Fiat Chrysler, Peugeot maker ink $50 billion merger

The French state also holds a 12 percent stake in PSA but officials have openly backed the merger with Fiat Chrysler.

The two automakers inked their agreement the same day as the United Auto Workers Union ratified its new, four-year contract with FCA. The settlement, covering 47,000 hourly employees, ensures that the new company won’t be able to close any of its U.S. plants while the agreement is in effect through 2023. It calls for $9 billion in new investments during the next four years while securing or creating 7,900 jobs.But the new enterprise clearly will have to rein in costs.

But PSA is stronger when it comes to the rise of battery-powered vehicles many expect to displace the conventional internal combustion engine over the next couple decades. The new company will have to invest heavily in electrification, as well as the development of the autonomous vehicles also expected to play a major role in the coming years.

I bet Ford and Chevy are quaking in their boots.

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Fonte: WSJ - 🏆 98. / 63 Consulte Mais informação »

Fiat Chrysler, Peugeot owner agree binding $50 billion merger dealFiat Chrysler and Peugeot maker PSA have reached a binding agreement over their roughly $50 billion merger that will reshape the global car industry. More here: Fiat will destroy PSA, mark my words. So PSA cars will have Fiat quality or Fiat Cars will have PSA quality? Not again... last mergers passed & we still on fossil fuel. More lay offs fatter pay check for CEOs.
Fonte: Reuters - 🏆 2. / 97 Consulte Mais informação »

Fiat Chrysler and Peugeot sign deal for 50-50 mergerMILAN (AP) — Fiat Chrysler Automobiles and PSA Peugeot announced Wednesday that their boards signed a binding deal to merge the two automakers, creating the world’s fourth-largest auto... Hopefully they go down in flames Mechanics across the globe rejoice.
Fonte: AP - 🏆 728. / 51 Consulte Mais informação »

Fiat Chrysler, Peugeot owner PSA agree binding merger dealFiat Chrysler and Peugeot maker PSA said on Wednesday they had agreed on a bindi... Money Moves ... Don't Quote Me. That's the end of Chrysler.
Fonte: Reuters - 🏆 2. / 97 Consulte Mais informação »