ON DECRYPT
Fiat Chrysler and PSA speak marriage. A few months after its abortive merger with Renault, the Italian-American car manufacturer Fiat Chrysler discusses a rapprochement with the other major French group in the sector, said Tuesday a source familiar with the matter. Flavien Neuvy, director of the Cetelem automobile observatory, details at the microphone of Europe 1 the motives and the implications of a possible union.
The announcement comes in a particular context for the automotive sector. "Times are changing: we have had 10 years of very strong growth worldwide, where sales are declining for the first time in a decade, they are not falling, but it's still a turnaround", analysis Flavien Neuvy. PSA is targeting the US market, already conquered in the 1980s. "This operation would create the 4th largest global automotive group, able to cope with new mobility challenges," says Bercy, according to information Europe 1.
Electric market
Because the rules of the automobile market are changing. "The targets set for reducing CO2 emissions by 2030 mean that either the builders must be able to make electricity, or they will be subject to considerable fines," he continues. Fiat-Chrysler does not yet have the electrical technology, a union with PSA (which already holds) would allow it to position itself in this market of the future.
The state follows the discussions "with attention"
The French state will be "particularly vigilant" on employment, governance and the industrial footprint of all that could create a rapprochement between car manufacturers PSA and Fiat Chrysler, responded Wednesday the Ministry of Economy and Trade. Finance. The State, shareholder in about 12% of PSA via Bpifrance, "follows with attention and opening the discussions initiated" between the two groups, which devote "the recovery of PSA with the support of the State".