Fiat Chrysler and Peugeot owner PSA confirm they plan to merge, creating the world's fourth-largest automaker
French Finance Minister Bruno Le Maire welcomed the FCA-PSA tie-up, saying it would give them the critical mass needed to thrive in a fast changing industry.
Italian industry minister Stefano Patuanell said the deal was good news provided it didn’t affect jobs in Italy. Citi analysts said the cash payout for FCA shareholders contrasted with the Faurecia shares, worth about 2.7 billion euros at Wednesday’s close, being offered to PSA shareholders, saying the latter were “being asked to remain patient.”
A combination with PSA would give FCA access to the French group’s more modern and more flexible vehicle technologies, including the CMP modular platform, which was launched in 2019 for Peugeot’s e-208 compact city car, and donated the technology which allowed Opel to build the Corsa-e mini.Strategy firm PA Consulting has forecast FCA faces a fine of 700 million euros unless it radically changes its emissions profile to sell more electric and hybrid cars.
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