Fiat Chrysler looking to merge with Peugeot after failed talks with Renault.
The PSA and Fiat Chrysler boards were both scheduled to hold extraordinary meetings on Wednesday to discuss the merger proposal, NBC News confirmed. While it remains unclear precisely how far along the talks have progressed, the process would likely stretch well into 2020.
One of the challenges each now faces is what that source described as the “intense headwinds” facing the industry, especially when it comes to new technologies that could become dominant within a decade. FCA, in particular, has been slow to embrace electrification. It currently offers just one plug-in hybrid, a version of the Chrysler Pacifica. Its only all-electric model, the Fiat 500e, is being pulled from the U.S. market.
The two potential partners also see opportunities to fill in gaps in both their product and geographic portfolios. FCA has largely pulled out of the passenger car market, for example. PSA is struggling to make a comeback in the U.S. market after a quarter-century absence. And both need help in China, the world’s largest automotive market.
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