Fiat Chrysler and Peugeot Citroën Agree To Merge

[Chun_li]

Fiat Chrysler and PSA Peugeot to make merger announcement soon

Fiat Chrysler Automobiles and PSA Peugeot are planning to announce a binding memorandum of understanding that will merge the two carmakers, a person briefed on the announcement said on Monday.

A prepared statement on the agreement will be released early on Wednesday in Europe, according to the person who requested anonymity due to a lack of authorisation to speak before the announcement.

The two companies announced a merger in October that would create the world’s fourth-largest car company, worth $50 billion (R720bn) and producing 8.7 million cars a year - just behind Toyota, Volkswagen and the Renault-Nissan alliance.

While the deal has been touted as a 50-50 merger, French carmaker PSA is expected to have the upper hand, with its cost-cutting CEO Carlos Tavares in charge and PSA controlling the new company’s board.

Fiat Chrysler chairman John Elkann, whose family founded Italian carmaker Fiat in 1899, is expected to remain chairman of the merged company. The role of Fiat Chrysler CEO Mike Manley remains unclear.

Fiat Chrysler has long been looking for an industrial partner to shoulder investment costs as the industry faces a transition to electrified power trains and autonomous driving. A previous deal with French rival Renault last spring fell apart over French government concerns over the role of Renault's Japanese partner, Nissan.

Fiat Chrysler and PSA Peugeot to make merger announcement soon

While the deal has been touted as a 50-50 merger, French carmaker PSA is expected to have the upper hand.

www.iol.co.za

I'm assuming that the new Fiat EV will most likely share electrical components with the 208e and Corsa e

 

[FiestaST]

Fiat Chrysler and Peugeot boards sign off on merger - report

The boards of French carmaker PSA , the owner of Peugeot, and Fiat Chrysler (FCA) in separate meetings on Tuesday approved a binding agreement for a $50 billion (R720bn) merger, sources said.

The two mid-sized carmakers announced plans six weeks ago for a tie-up to create the world's No. 4 carmaker and reshape the global industry. A merger is seen helping them deal with big challenges in the industry, including a global downturn in demand and the need to develop costly cleaner cars to meet looming anti-pollution rules.

Fiat Chrysler and Peugeot boards sign off on merger - report

The world's fourth-largest carmaker is about to be created, however, the deal could still face close regulatory scrutiny.

www.iol.co.za

 

[FiestaST]

It's official - PSA, Fiat Chrysler agree to merge

French carmaker PSA and US-Italian rival Fiat Chrysler have signed an agreement to create the world's fourth-largest automaker, they said in a joint statement on Wednesday.

"Fiat Chrysler Automobiles and Peugeot SA (Groupe PSA) have today signed a binding combination agreement providing for a 50/50 merger of their businesses to create the fourth-largest global automotive original equipment manufacturer by volume and third-largest by revenue," the statement said.

It's official - PSA, Fiat Chrysler agree to merge | Life

French carmaker PSA and US-Italian rival Fiat Chrysler have signed an agreement to create the world's fourth-largest automaker.

m.wheels24.co.za

 

[FiestaST]

Fiat Chrysler and Peugeot reach 'binding' merger agreement

Fiat Chrysler and Peugeot maker PSA have reached a binding agreement over their roughly $50 billion merger that will reshape the global car industry.

France's PSA and Italian-American Fiat Chrysler (FCA), which are yet to decide on a name for their new company, will now start work on delivering their pledge to cut costs by 3.7 billion euros ($4.1 billion) a year without closing factories.

WATCH: Fiat Chrysler and Peugeot reach 'binding' merger agreement

The merger will reshape the motor industry, and see most of the two companies' products shifting onto two platforms.

www.iol.co.za

 

[FiestaST]

PSA Group and FCA sign ‘combination agreement’ and confirm merger

The PSA Group and Fiat Chrysler Automobiles have signed a “binding combination agreement” providing for a 50/50 merger of their businesses.

The firms say the resulting combined company will be the fourth-largest global automotive OEM by volume (and the third largest by revenue). Completion of the proposed combination is expected to take place in 12 to 15 months.

PSA Group and FCA sign ‘combination agreement’ and confirm merger... - CAR Magazine

The PSA Group and Fiat Chrysler Automobiles have signed a “binding combination agreement” providing for a 50/50 merger of their businesses. The firms say the... Read more →

www.carmag.co.za

 

[Chun_li]

PSA Group and FCA sign ‘combination agreement’ and confirm merger

The PSA Group and Fiat Chrysler Automobiles have signed a “binding combination agreement” providing for a 50/50 merger of their businesses.

The firms say the resulting combined company will be the fourth-largest global automotive OEM by volume (and the third largest by revenue). Completion of the proposed combination is expected to take place in 12 to 15 months.

PSA Group and FCA sign ‘combination agreement’ and confirm merger... - CAR Magazine

The PSA Group and Fiat Chrysler Automobiles have signed a “binding combination agreement” providing for a 50/50 merger of their businesses. The firms say the... Read more →

www.carmag.co.za

I look forward to seeing new Fiat models

 

[TheChamp]

I look forward to seeing new Fiat models

It's less about models and more about knowing how to run a business when it comes to Fiat, their recent cars here is SA are good but they are just pathetic when it comes to selling them.

 

[Chun_li]

It's less about models and more about knowing how to run a business when it comes to Fiat, their recent cars here is SA are good but they are just pathetic when it comes to selling them.

I remember a few years ago a few guys took a new Panda twin air (2 cylinder) and travelled from SA to Europe without any issues. So why doesn't fiat use this as marketing I have no idea. In fact they don't advertise much and on social media it's just pictures of cars outside of SA
I also don't know why they don't bring their Brazilian offerings to SA like the Strada ...

 

[Jchan11hk]

FCA in SA is just useless, we all know. For the new group to work, they really need to re-do the whole aftersales and marketing departments. But I do not have high hopes for that.

 

[FiestaST]

FCA and PSA Join Forces

Fiat Chrysler Automobiles (FCA) and Peugeot S.A (PSA) are merging to create the 4th largest OEM in volume terms. More detail below…

FCA and PSA have signed a Combination Agreement that will result in the automotive giants merging in an effort to be at the forefront of a “new era of sustainable mobility”. When complete, the new entity will be the 4th largest OEM by volume (8.7 million units) and the 3rd largest by revenue (€170 billion) with an expected operating profit of over €11 billion (6.6% profit margin). More so, estimated synergies are expected to be cash-flow positive in the first year.

By combining financial strength and skills, the new entity will be able to provide innovative and sustainable mobility solutions while leveraging the efficiencies derived from larger volumes. The vehicle portfolio will be broad including mainstream passenger cars, luxury and premium vehicles, SUVs, Light Commercial Vehicles (LCVs) and trucks. More than two-thirds of the run-rate volume will be focused on 2 platforms with approximately 3 million units expected to be produced per year on each of the small and compact/medium-size platforms.

FCA and PSA Join Forces

Fiat Chrysler Automobiles (FCA) and Peugeot S.A (PSA) are merging to create the 4th largest OEM in volume terms. More detail below… FCA and PSA have signed a Combination Agreement that will result in the automotive giants merging in an effort to be at the forefront of a “new era of sustainable...

www.cars.co.za

 

[Chun_li]

FCA in SA is just useless, we all know. For the new group to work, they really need to re-do the whole aftersales and marketing departments. But I do not have high hopes for that.

At least the French manufacturers are trying. They aren't the best when it comes to aftersales but atleast they acknowledged it and are improving. Now they just need to focus on advertising and dealer network

 

[Jchan11hk]

At least the French manufacturers are trying. They aren't the best when it comes to aftersales but atleast they acknowledged it and are improving. Now they just need to focus on advertising and dealer network

Really hoped the Renault - Nissan merge was successful, then FCA can tap into the turnaround strategy and the Japanese way of engineering efficiency and quality. Let's hope for the best

 

[FiestaST]

Long road ahead for Fiat Chrysler and Peugeot merger

Fiat Chrysler and Peugeot maker PSA face the challenge of winning over regulators and delivering on a pledge to slash costs without closing factories after sealing a binding deal to create the world's fourth biggest carmaker.

Both tasks are likely to prove difficult, as two of the industry's oldest dynasties try to combine major European operations under the gaze of politicians and trade unions who have vowed to resist any move to cut jobs.

Success is vital to help both companies cope with a slowdown in demand and the cost of making cleaner vehicles to meet tougher emissions regulations.

France's PSA and Italian-American Fiat Chrysler Automobiles (FCA) announced a preliminary deal six weeks ago for an all-share merger that would create a company worth about $50 billion (R718bn) and unite brands such as Fiat, Jeep, Dodge, Ram and Maserati with the likes of Peugeot, Citroen, Opel and Vauxhall.

The terms were little changed in the binding deal announced on Wednesday, including a target to cut costs by 3.7 billion euros (R59bn) a year without closing factories.

However, analysts said the effective premium being paid by PSA to achieve the 50-50 split was slightly lower.

Long road ahead for Fiat Chrysler and Peugeot merger

FCA and PSA will face the challenge of winning over regulators and delivering on a pledge to slash costs without closing factories.

www.iol.co.za

 

[FiestaST]

Merged FCA-PSA group to be called Stellantis

Newly merged industry giant to adopt Latin-inspired corporate brand name

The company formed by the planned merger of the PSA Group and Fiat Chrysler Automobiles will be named Stellantis.

The two firms agreed to a 50-50 merger last year that will create one of the world’s largest car groups, and the current aim is for the process to be completed early next year.

When the merger is completed the firm will be known as Stellantis, which the firms say has its roots in the Latin verb stello, meaning “to brighten with starts.”

Stellantis: FCA-PSA merger approved by all shareholders | Autocar

Newly merged industry giant has received overwhelming shareholder approval, with completion expected later this month

www.autocar.co.uk

 

[notinterested]

What a dumb name. Sounds like a cheap axe deodorant.

 

[FiestaST]

FCA and PSA Becomes Stellantis

Stellantis is the new name of the group resulting from the merge of Groupe PSA and Fiat Chrysler Automobiles.

When it was announced back in December 2019, the merger between European giants Groupe PSA and Fiat Chrysler Automobiles was set to become one of the biggest in history. With a considerable number of brands in each portfolio, this merge would take some time to finalise. Now in July 2020, it has been announced the new group will be called Stellantis.

FCA and PSA Merge to Become Stellantis (Updated)

Shareholders from Fiat Chrysler Automobiles and PSA Groupe have voted to merge and the result is the birth of Stellantis! Update: The merger between PSA Groupe and Fiat Chrysler has been finalised, and Stellantis is the 4th biggest carmaker in the world. Toyota, Volkswagen Group and...

www.cars.co.za

 

[FiestaST]

Stellantis: FCA-PSA merger approved by all shareholders​

Newly merged industry giant has received overwhelming shareholder approval, with completion expected later this month

The planned merger of the PSA Group and Fiat Chrysler Automobiles, dubbed Stellantis, has been approved by shareholders of both firms.

Shareholder meetings held today saw the deal, set to create one of the world’s largest car groups, approved almost unanimously.

On, the PSA, the deal was backed by more than 99% of the votes cast by shareholders with double voting rights, such as the Peugeot family and Chinese firm Dongfeng Motor. The rest of PSA’s shareholders gave the deal a 99.85% approval rate in a second meeting. A similar approval rate is being claimed for the FCA side of the voting process.

A joint statement released by both firms lists an expected completion date for the merger of 16 January. Common shares will begin trading in Paris and Milan on 18 January, before trading on the New York stock exchange begins the day after.

Stellantis: FCA-PSA merger approved by all shareholders | Autocar

Newly merged industry giant has received overwhelming shareholder approval, with completion expected later this month

www.autocar.co.uk

 

[FiestaST]

FCA and PSA Merge to Become Stellantis

Shareholders from Fiat Chrysler Automobiles and PSA Groupe have voted to merge and the result is the birth of Stellantis!

When it was announced back in December 2019, the merger between European giants Groupe PSA and Fiat Chrysler Automobiles was set to become one of the biggest in history.

The word Stellantis has Latin roots, 'stello' referring to 'to brighten with stars' and this name will be used at group level and as a corporate brand. The 50:50 merger is set to be completed within the next 2 weeks and when complete, the new entity will be the 4th largest OEM by volume (8.7 million units) and the 3rd largest by revenue (€170 billion) with an expected operating profit of over €11 billion (6.6% profit margin).

FCA and PSA Merge to Become Stellantis (Updated)

Shareholders from Fiat Chrysler Automobiles and PSA Groupe have voted to merge and the result is the birth of Stellantis! Update: The merger between PSA Groupe and Fiat Chrysler has been finalised, and Stellantis is the 4th biggest carmaker in the world. Toyota, Volkswagen Group and...

www.cars.co.za

 

[FiestaST]

Chrysler and Lancia brands could face axe as FCA-PSA merger nears finish line

Fiat Chrysler and Peugeot parent company PSA will complete their marriage later this month after shareholders recently signed off on a deal that endured two years of extraordinary drama.

The merged company, called Stellantis, will become the world's fourth-largest carmaker when everything becomes official on January 16.

However, a few historic brands could face the axe as the merged companies attempt to enhance efficiency and scale, and according to some analysts, US brand Chrysler and Italy’s Lancia could be in the firing line.

The Chrysler brand has in recent years become a shadow of its former self and currently it only sells the Pacifica minivan and the dated 300 premium sedan.

According to the Associated Press, some experts believe that the Chrysler brand will inevitably face the axe, along with other slower-selling cars and SUVs in the American line-up.

“You can’t be cost efficient if you keep the entire scale of both companies,” executive analyst Karl Brauer told AP. “We’ve seen this show before, and we’re going to see it again where they economise these platforms across continents, across multiple markets.”

Chrysler and Lancia brands could face axe as FCA-PSA merger nears finish line

Although the final plans have yet to be confirmed, some analysts believe that historic brands could be in the firing line as the merger seeks to enhance efficiency.

www.iol.co.za

 

[FiestaST]

FCA and PSA merge to make world’s fourth biggest car firm

Stellantis combines 14 brands and will produce around eight million vehicles a year

The planned merger between Fiat Chrysler Automobiles (FCA) and the PSA Group has been officially completed, creating a new industry giant called Stellantis.

The new company takes its name from the Latin ‘Stello’, meaning ‘to brighten with stars’. Set to produce about eight million vehicles a year, with promised revenues of over £150 billion, Stellantis will become the fourth largest car firm in the world.

Stellantis will combine a total of 14 brands, containing a mix of volume sellers, mostly provided by PSA, and more premium ranges, such as FCA’s Alfa Romeo and Maserati. Some of these brands are more Europe-centric and some are more focused on the US.

The full list of brands housed under Stellantis is: Peugeot, Citroen, DS, Vauxhall/Opel, Alfa Romeo, Fiat, Lancia, Maserati, Dodge, Jeep, Chrysler, Ram and Abarth.

According to spokespeople from PSA and FCA, the merger will eventually save the companies £3.2 billion through a mixture of synergies and economies of scale.

FCA and PSA merge to make world’s fourth biggest car firm | Autocar

Stellantis combines 14 brands and will produce around eight million vehicles a year

www.autocar.co.uk