Leading automakers Fiat Chrysler Automobiles and Groupe PSA have agreed a $50 billion merger, creating the biggest automaker in Europe and the fourth-largest in the world in the process.
Completion of the proposed merger is expected to take place in 12-15 months, subject to regulatory requirements and approval by both companies’ shareholders.
Carlos Tavares, chairman of the managing board of Groupe PSA, says: “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. [Read more…] about $50 billion merger of leading automakers creates global behemoth
