The Italian and American company, Fiat Chrysler, will merge with France's PSA Peugeot in order to become the fourth largest automaker in the world. The two companies will look to sign a Memorandum of Understanding before the end of 2019. The merger will be 50-50 and is a deal worth approximately $50 billion.
By combining resources, the two organizations will be better able to prepare for the future of electric and autonomous vehicles. Additionally, the merger was agreed to without any factory closures from either organization.
Carlos Tavares, the PSA Peugeot CEO spoke about the merger, stating “This convergence brings significant value to all the stakeholders and opens a bright future for the combined entity.”
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