- Title: Long road ahead as Fiat Chrysler, Peugeot agree $50 bln merger
- Date: 18th December 2019
- Summary: RUESSELSHEIM, GERMANY (FILE - NOVEMBER 9, 2017) (REUTERS) VARIOUS OF PSA CEO CARLOS TAVARES JOINING OPEL CEO MICHAEL LOHSCHELLER AT NEWS CONFERENCE, POSING FOR MEDIA TAVARES
- Embargoed: 1st January 2020 15:36
- Keywords: fiat chrysler merger peugot
- Location: AUBURN HILLS, MICHIGAN AND BELVIDERE, ILLINOIS, UNITED STATES / POISSY, FRANCE / UNKNOWN LOCATION / RUESSELSHEIM, GERMANY
- City: AUBURN HILLS, MICHIGAN AND BELVIDERE, ILLINOIS, UNITED STATES / POISSY, FRANCE / UNKNOWN LOCATION / RUESSELSHEIM, GERMANY
- Country: Various
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA004BAI72VB
- Aspect Ratio: 16:9
- Story Text: Fiat Chrysler and Peugeot maker PSA have struck a binding deal to create the world's fourth biggest carmaker, and now face the challenge of winning over regulators and delivering on a pledge to slash costs without closing factories.
Both tasks are likely to prove difficult, as two of the industry's oldest dynasties try to combine Europe's second and third biggest car manufacturers under the gaze of politicians and trade unions who have vowed to resist any move to cut jobs.
Success is vital to help both companies cope with a slowdown in autos demand and the cost of making cleaner vehicles to meet tougher emissions regulations.
The finance ministers of both France and Italy welcomed the deal, but also said they would closely monitor any impact on jobs in their respective countries.
The merged company will employ around 400,000 people worldwide, and unions have warned they will resist job losses.
(Production: Dina Selim)
- Copyright Holder: FILE REUTERS (CAN SELL)
- Usage Terms/Restrictions: None