Tuesday, October 29, 2019

Auto: "Red, White, Green & Blue": Fiat Chrysler Said to be in Talks with Peugeot

Fiat Chrysler Automobiles and and PSA, the French parent company of Peugeot,
Citroën, and the luxury-car brand DS, could combine into a single entity worth $50 billion, according to a report today in the Wall Street Journal. The paper cited "people familiar with the matter" and cautioned that the talks are "fluid" at this point.
Peugeot chief executive Carlos Tavares would assume the head of the conglomerate as CEO, while FCA chairman John Elkann would retain his role at the new company, the paper's sources said. Several months ago, Fiat and France's other major carmaker, Renault, ended talks to merge after the French government, the top shareholder of Renault, didn't accept Fiat's initial offer and Renault's partner Nissan balked. PSA acquired General Motors' Opel and Vauxhall brands in 2017.
Earlier this year, we learned PSA will reportedly return to selling Peugeots in the U.S. by 2026 after leaving the market in the early 1990s. The crossover pictured at top is a 2020 Euro-spec Peugeot 2008.

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