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FILE PHOTO: The logos of car manufacturers Fiat and Peugeot (REUTERS) — FILE PHOTO: The logos of car manufacturers Fiat and Peugeot **(REUTERS)**

Fiat-PSA in talks with Chinese car makers for tie up, Yicai says

1 min read . Updated: 17 Jan 2021, 09:28 AM IST Bloomberg

FCA and PSA completed its merger over the weekend, creating a new entity named Stellantis NV. The new group is planning to hold 75% of the shares in the venture.
Stellantis may also close an existing joint venture in China to offload some of its capacity.

Fiat Chrysler Automobiles NV and PSA Group, which merged to create an auto giant, is in talks with China’s Chery Automobile Co. Ltd. and Guangzhou Automobile Group to create a joint venture, local media Yicai reported.

FCA and PSA completed its merger over the weekend, creating a new entity named Stellantis NV. The new group is planning to hold 75% of the shares in the venture, which will make a variety of vehicles from passenger cars to energy-efficient vehicles, according to Yicai, citing sources it didn’t identify.

(Also read | Fiat Chrysler and PSA to seal merger to become Stellantis)

Stellantis may also close an existing joint venture in China to offload some of its capacity, the publication said.

This story has been published from a wire agency feed without modifications to the text.