Peugeot still aims to sign merger deal with Fiat this year - source

The merger is set to create the world's fourth-largest carmaker and give the new entity the scale to meet technological and regulatory challenges that are troubling automakers globally.
By :
| Updated on: 23 Nov 2019, 12:54 PM
The logo of PSA Peugeot Citroen is seen at the company's plant in Poissy, near Paris. (Reuters)
The logo of PSA Peugeot Citroen is seen at the company's plant in Poissy, near Paris. (Reuters)
The logo of PSA Peugeot Citroen is seen at the company's plant in Poissy, near Paris. (Reuters)
The logo of PSA Peugeot Citroen is seen at the company's plant in Poissy, near Paris.

French carmaker PSA plans to sign a $50 billion merger deal with Fiat Chrysler Automobiles (FCA) this year, a source with direct knowledge of PSA's thinking said on Friday, brushing off concerns over a shock lawsuit filed this week.

The merger is set to create the world's fourth-largest carmaker and give the new entity the scale to meet technological and regulatory challenges that are troubling automakers globally.

Similar Cars

Find More Cars
Citroen C3 (HT Auto photo)
UPCOMING
Citroen C3
1198 cc | Petrol | Manual
₹ 5.5 Lakhs Expected Price*
Force Motors Gurkha New (HT Auto photo)
Force Motors Gurkha New
2596 cc | Diesel | Manual
₹13.59Lakhs*Onwards
Citroen C5 Aircross (HT Auto photo)
Citroen C5 Aircross
1997 cc | Diesel | Automatic (Torque Converter) | 18.6 kmpl
₹30.3Lakhs*Onwards
Mean Metal Motors Azani (HT Auto photo)
UPCOMING
Mean Metal Motors Azani
Prices are currently unavailable

FCA has already said the lawsuit brought against Fiat by General Motors Co on Wednesday was "meritless".

The source, who spoke on condition of anonymity, said Peugeot-manufacturer PSA remained focused on the merger talks, and intended to sign a memorandum of understanding on the deal this December, as scheduled.

Fiat also expressed confidence in reaching a binding merger deal with PSA by the end of this year.

GM filed its lawsuit in the United States, alleging FCA had bribed United Auto Workers (UAW) union officials over years to corrupt the bargaining process and gain advantages, costing GM billions of dollars.

FCA said the suit, seeking substantial damages, appeared intended to disrupt the Italian-American firm's merger plan with PSA.

First Published Date: 23 Nov 2019, 12:54 PM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city