The merger between Fiat Chrysler and PSA Groupe will create a company with $190 billion in revenue.
AMSTERDAM - Fiat Chrysler and Peugeot owner PSA Group have announced the terms of a merger that would create a new trans-Atlantic automaking giant with roughly 410,000 employees and combined revenues of $190 billion.
The combined company would be based in the Netherlands, which is the current headquarters of Fiat Chrysler.
John Elkann, the current chairman of Fiat Chrysler, would perform the same role at the combined company, while PSA Group chief executive Carlos Tavares would be CEO.
Fiat Chrysler and PSA sold a combined 8.7 million vehicles last year, just ahead of GM, which sold 8.3 million, and not far behind Volkswagen and Toyota, which each sold over 10 million.