Supervisory Board French automaker PSA, which owns Peugeot, approved a binding Memorandum of understanding to merge with rival Fiat Chrysler, reported in Reuters with reference to own source.
According to the source, a separate Commission of the Fiat Chrysler (FCA) was discussed after the initial agreement on the merger in the amount of $ 50 billion to create a fourth automaker in the world.
Previously coalsalesthat will lead the new company and current CEO of the PSA Group, Carlos Tavares, and John Elkan, Chairman of the Board of Fiat Chrysler, takes a similar position in the combined company.
it is Planned that the new company will develop the production of electric vehicles and unmanned vehicles. To do this, Fiat Chrysler and PSA will share technologies. The merger was planned on a parity basis: the shareholders will get 50 percent of the new company.
Fiat Chrysler owns such brands as Alfa Romeo, Chrysler, Dodge, Jeep, Lancia and Ram Trucks. In the asset PSA following brands: Peugeot, Citroen DS, Opel and Vauxhall. In total, the number of cars sold (8.7 million in 2018), the company is second only to Volkswagen, Nissan-Renault, Mitsubishi and Toyota motors.
