Timeline: Fiat Chrysler and Peugeot merger marks next round of consolidation2 min read . Updated: 19 Dec 2019, 10:53 AM IST
Fiat Chrysler Automobiles (FCA) and Peugeot S.A. (PSA) announced on Wednesday that they have signed a binding agreement for a 50-50 merger of their businesses. The deal will create the world's third largest car manufacturer by revenue and the fourth largest by automobile sales.
Fiat Chrysler and Peugeot maker PSA on Wednesday reached a binding agreement for their roughly $50 billion merger, as the auto industry scrambles to develop zero-emissions vehicles and tackle slowing demand.
Following is a chronology of the industry's most important alliances and merger deals:
Fiat Chrysler and PSA reach a binding agreement on a $50 billion tie-up to create world's No. 4 carmaker. Aim to complete deal in 12-15 months.
Companies confirm talks over a potential deal.
Fiat Chrysler proposes a merger of equals with French rival Renault but later withdraws the idea after the French government demands concessions.
Honda Motor Co says it will invest $2.75 billion and take a 5.7% stake in General Motors Co's Cruise self-driving unit.
Ford and Volkswagen unveil an alliance in commercial vehicles, though they say they have no plans for an equity swap or cross-ownership structure.
Geely Chairman Li Shufu reveals he has bought a 9.69% stake in Mercedes-Benz parent Daimler worth around $9 billion.
Mazda and Toyota say they will open a $1.6 billion joint venture factory in Alabama in 2021. Toyota takes a 5% stake in Mazda as part of the deal.
August 1, 2017
General Motors sells European brands Opel and Vauxhall to PSA for 2.2 billion euros.
Nissan buys 34% stake in Mitsubishi Motors, handing it de facto control in a $2.2 billion deal.
Toyota, which already owned 51.2% of Daihatsu, buys the rest in an all-stock deal worth $3 billion.
Fiat Chrysler CEO Marchionne emails GM chief Mary Barra asking her to explore a combination of the two carmakers but is rebuffed.
French state ups Renault stake to 19.74% from 15% in a deal designed to block efforts by Nissan to increase its influence over Renault.
Fiat buys 41.46% of Chrysler it did not already own in a $4.35 billion deal.
Volkswagen takes control of Porsche.
Renault-Nissan boss Carlos Ghosn and Daimler CEO Dieter Zetsche unveil arms-length alliance including cross-shareholdings of around 3%.
China's Zhejiang Geely Holding buys Volvo cars from Ford $1.8 billion.
India's Tata buys Jaguar and Land Rover from Ford for $2.3 billion.
Daimler sells 80% stake in Chrysler to private equity firm Cerberus for 5.5 billion euros.
Ford buys Land Rover from BMW for $2.7 billion.
BMW sells Rover but retains ownership of Mini.
Renault and Nissan sign an alliance which results in Renault holding a 44.4% stake in Nissan, while Nissan bought 15% of Renault shares.
Ford buys Sweden's Volvo cars for $6.45 billion.
Volkswagen buys Lamborghini.
Volkswagen buys Bentley and Bugatti.
Daimler-Benz buys Chrysler for $36 billion.
BMW buys Rover Group for 800 million pounds.
Czech government allows Volkswagen to buy Skoda.
Volkswagen buys 51% of Seat.
This story has been published from a wire agency feed without modifications to the text.