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| Fiat Chrysler in Merger Talks With PSA, Maker of Peugeot | |
| (about 1 hour later) | |
| Fiat Chrysler said Wednesday it is in talks with the French maker of Peugeot and Citroën cars about a possible merger, the latest example of how automakers are joining forces to survive major technological shifts in the industry. | Fiat Chrysler said Wednesday it is in talks with the French maker of Peugeot and Citroën cars about a possible merger, the latest example of how automakers are joining forces to survive major technological shifts in the industry. |
| Fiat Chrysler said in a statement that it is in talks with PSA Group “on a possible business combination.” | Fiat Chrysler said in a statement that it is in talks with PSA Group “on a possible business combination.” |
| In its own statement on Wednesday, PSA Group, citing media reports about a potential deal between the two companies, said it “confirms there are ongoing discussions aiming at creating one of the world‘s leading automotive groups.” | |
| If successful, the merger would give PSA access to the United States market for the first time in decades, and give Fiat Chrysler a partner to share the costs of developing new cars. | If successful, the merger would give PSA access to the United States market for the first time in decades, and give Fiat Chrysler a partner to share the costs of developing new cars. |
| This is a developing story, and it will be updated. |