“Fiat” and “Peugeot” management integration 4th in the world December 18th 18:45
Major automakers FCA = Fiat Chrysler and PSA = Peugeot Citroën announced on August 18 that they have formally agreed to merge. The world's fourth-largest automobile group, after Nissan Renault and Toyota, will be born, and the power of the industry will change.
In May, Fiat Chrysler proposed a business integration to Renault, a French company affiliated with Nissan Motor, but did not realize it and was in negotiations with Peugeot Citroën.
As a result, the two companies announced on the 18th that they had formally agreed to a business integration and exchanged binding notes.
The two will merge on equal terms to establish a new company in the Netherlands, and plan to finish the procedure as early as next year.
The global sales volume of both companies based in the North American market and the European market is 8.7 million units, following the "Volkswagen", "Nissan / Renault / Mitsubishi Motors Federation", and "Toyota Motor". It will be the 4th place in the world, and it will change the power map of the industry.
CEO of Peugeot Citroën, CEO of the new company, CEO = “It will be a great opportunity to establish a stronger position in the automotive industry”.
This business integration aims to rush the development of vehicle electrification and autonomous driving technology by expanding the scale, and seek to survive manufacturers in the face of a revolution that is said to be once every 100 years. The movement is getting stronger.