Fiat Chrysler Automobiles and Groupe PSA have announced a 50/50 merger of their businesses to create the forth largest global automotive OEM by volume and the third largest by revenue.
The proposed combination will be an industry leader with the management, capabilities,
resources and scale to successfully capitalise on the opportunities presented by the new era in sustainable mobility.
The merged entity will also the new supergroup to provide innovative, clean and sustainable mobility solutions, both in a rapidly urbanizing environment and in rural areas around the world. Plus, the two automakers can now unite their business strengths to provide best-in-class products, technologies and services, with increased agility to the shift taking place in this highly demanding sector.
With an already strong global R&D footprint, the combined entity will have a robust
platform to foster innovation and further drive development of transformational capabilities in new energy vehicles, sustainable mobility, autonomous driving and connectivity.
Carlos Tavares, Chairman of the Managing Board of Groupe PSA, said: “Our merger is a huge opportunity to take a stronger position in the auto industry as we seek to master the transition to a world of clean, safe and sustainable mobility and to provide our customers with world-class products, technology and services. I have every confidence that with their immense talent and their collaborative mindset, our teams will succeed in delivering maximized performance with vigor and enthusiasm.”
Mike Manley, Chief Executive Officer of FCA, added: “This is a union of two companies with
incredible brands and a skilled and dedicated workforce. Both have faced the toughest of times and have emerged as agile, smart, formidable competitors. Our people share a common trait – they see challenges as opportunities to be embraced and the path to making us better at what we do.”