Fiat Chrysler and PSA (Peugeot and Citroën) want to merge.
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Sébastien Salom-Gomis / Sipa
The European Union gave the green light on Monday for the merger between French manufacturers PSA (Peugeot, Citroën) and Italian-American Fiat Chrysler (FCA) to form the fourth largest automotive group in the world, but the two companies will have to s' commit to preserving competition in small utilities.
The two groups have agreed to extend the cooperation agreement between PSA and Toyota in small light commercial vehicles and to facilitate the access of competitors to the repair and maintenance networks of PSA and FCA for this type. vehicles, according to a statement from the European Commission.
A wedding in the first quarter of 2021
The union of PSA and FCA, announced at the end of 2019, should give birth to the world's fourth largest automotive group in terms of volume and third in terms of revenue, housing iconic brands such as Peugeot, Citroën, Opel, Jeep, Alfa Romeo under the same roof. and Maserati.
The builders have planned to complete their wedding project in the first quarter of 2021. The new entity regrouping their activities will be called Stellantis.
“We are able to authorize the merger between Fiat Chrysler and Peugeot SA as their commitments will facilitate entry and expansion into the light commercial vehicle market.
In the other markets where the two car manufacturers currently operate, competition will remain strong after the merger, ”said Margrethe Vestager, Commission Vice-President in charge of competition.
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