Fiat Chrysler confirmed that it was in talks with Peugeot over a possible merger, a move that would create the third-largest car manufacturer in the world. Fiat Chrysler had initially negotiated a similar deal with Renault Group in May but failed to reach a deal, as the French government, a stakeholder in the company intervened.
Fiat Chrysler manufactures popular brands such as Jeep, Dodge, Ram, and Alfa Romeo, and was the seventh-largest automobile group in the world last year, selling a total of 4.8 million vehicles. By adding Peugeot’s 3.88 million car sales in 2018 the new group would be thrust into the third spot in the industry behind the two top players, Volkswagen and Toyota.
Pundits in the automobile industry say Fiat Chrysler had been looking for a partner to shoulder the challenges of the industry putting a heavier focus on electric vehicles, which for car makers means making some major investments.
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