Fiat Chrysler And Peugeot Speed Up Work To Close The Merger

The crisis triggered by the new coronavirus has virtually wiped out demand for new vehicles, pushing automakers to temporarily halt most production and leaving them needing cash.

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Both companies are working to speed up the merger deal despite coronavirus crisis

Highlights

  • FCA and Peugeot have been working on this merger for a while now
  • The working groups were also speeding up work on synergies
  • The crisis triggered by the coronavirus has virtually wiped out demand

Working groups at car makers Fiat Chrysler and Peugeot's owner PSA  are speeding up work on closing their alliance deal despite the coronavirus crisis, PSA chief executive officer Carlos Tavares said in an internal note seen by Reuters.

Tavares also said in the note the working groups were also speeding up work on synergies.

The crisis triggered by the new coronavirus has virtually wiped out demand for new vehicles, pushing automakers to temporarily halt most production and leaving them needing cash.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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