Peugeot-maker PSA and Fiat Chrysler unveiled on Thursday their plan for a 50-50 merger that aims to create the world’s fourth-largest car manufacturer, but quickly came under pressure to preserve jobs.
Fiat Chrysler Automobiles (FCA) and Peugeot maker PSA have reached a binding agreement over a roughly $50 billion merger that will reshape the global car industry.
Italian Prime Minister Giuseppe Conte welcomed the planned merger of Fiat Chrysler with its French rival PSA in an newspaper interview on Thursday, but said protecting jobs would be a top priority.
Peugeot manufacturer PSA Group returned to revenue growth in its core autos division in the third quarter, recovering from a slump during coronavirus lockdowns, though the prospect of new restrictions hit French shares.
Strong growth forecast for global auto sales in 2021 with Europe strongest, barring anything unexpected. South Korea’s Hyundai Motor Co and affiliate Kia Motors Corp on Monday forecast combined global vehicle sales will jump 11.5 per cent in 2021