Fiat Chrysler Automobiles and PSA Group said that investors had approved their $52 billion merger, and that shares in the new company, named Stellantis, would start trading in two weeks.
Following the news that the shareholders of Peugeot- Citroën (PSA) and Fiat-Chrysler (FCA) have approved the proposed merger to create Stellantis, Mike Vousden, Automotive Analyst at GlobalData, offers his view.
Prosecutors searched Fiat Chrysler Automobiles sites in Germany and Italy as part of an international fraud investigation into potentially illegal emissions cheating defeat devices.
Fiat Chrysler Automobiles has extended production stoppages at its plants in Europe by at least one more week. The automaker’s factories in Italy will remain closed until April 3 to contain the coronavirus pandemic. Originally the plants were due to resume production on March 27
Fiat Chrysler is halting production through March 27 at the majority of its plants in Europe following the coronavirus crisis which is disrupting the economy.
Fiat’s new 500 full-electric car will join the growing number of battery-powered minicars targeting customers in Europe’s cities seeking emissions-free mobility.
Fiat Chrysler Automobiles is restricting access to its European plants following the spread of the coronavirus in northern Italy.
Disruptions to parts production caused by the coronavirus outbreak in China could threaten output at one of Fiat Chrysler Automobiles’ plants in Europe within two to four weeks, CEO Mike Manley said.
Fiat Chrysler Automobiles and PSA Group have said they will not to close factories if they merge but this promise is likely to come under heavy strain as the combined group would have spare production capacity of almost 6 million vehicles in a slowing autos market.
Following the news that PSA Group and Fiat-Chrysler (FCA) are in discussions to combine operations and create a leading global group; David Leggett, Editor at GlobalData, a leading data and analytics company, offers his view.
Fiat Chrysler Automobiles CEO Mike Manley said the automaker will not have to pay fines for failing to comply with tougher European CO2 regulations in 2019 and 2020.
Shares in Fiat Chrysler Automobiles and Renault fell sharply in early trading on Thursday after their $35 billion-plus merger plan fell apart only 10 days after being made public, with FCA blaming French politicians.
Fiat Chrysler withdrew a $35 billion merger offer for France’s Renault, abruptly calling off what would have been a landmark deal to create the world’s third-biggest automaker.
Fiat Chrysler Automobiles could face billions in euros in fines from the French government if the automaker is found to have committed fraud by cheating on diesel emissions tests, the newspaper Le Monde reported.
Fiat Chrysler Automobiles and Guangzhou Automobile Group are in talks to deepen their tie-up in China, as the world’s largest car market looks to relax some regulations and Guangzhou prepares to sell its Trumpchi brand in the U.S.
