It's official: Fiat Chrysler Automobiles and PSA Groupe intend to merge operations.
Published 7:36 AM EDT Oct 31, 2019The companies early Thursday announced their plans for a 50-50 joint shareholder-owned entity that they said would save $4.11 billion annually without plant closures. The companies would have combined revenues of $189.06 billion with profits of more than $12.23 billion based on 2018 figures.
FCA sold more than 4.6 million vehicles worldwide last year, while PSA sold 3.96 million, according to LMC Automotive. FCA's top markets are the United States, Italy and Brazil; PSA's are France, the United Kingdom and Germany.
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