“We are available what the opportunities are,” said PSA President Carlos Carlos Tavares, who headed a new automaker.
The merger will help a new automaker address major industry challenges, including a global slowdown in demand and the need to develop cars that are harder to meet anti-pollution rules.
A conference call will explain more details about the deal later this Wednesday. A merger is expected to involve $ 50 billion and to inform China’s Dongfeng Motor that a 12.2% cut in PSA will have a reduced stake of about 4.5% in the merger group.
Under an agreement approved by PSA’s board of directors on Tuesday (17), an FCA-using unit, Comau, would remain within the combined group rather than be dismembered, as planned in October. The new evaluation group as an extra value from Comau.
FCA and PSA are expected to finalize an agreement by the end of 2020 to create a group with 8.7 million recent vehicle sales.