Fiat-PSA Union Denies Experiences of Tie-Ups With Chinese Corporations

(Bloomberg) — Stellantis NV, the newly-formed corporation from the merger in between Fiat Chrysler Vehicles NV and PSA Group, has denied a local news report that it is in talks for a new merger with Chinese carmakers, Stellantis reported Sunday in an emailed statement to Bloomberg Information.



logo: A Fiat Chrysler Automobiles NV badge sits on display at a National Auto showroom in Dubai, United Arab Emirates, on Thursday, Oct. 31, 2019. Fiat Chrysler Automobiles NV and PSA Group went out of their way to make their combination as equal as possible, shedding assets, paying special dividends and distributing board seats. It didn’t take long for investors to figure out who the buyer is.


© Bloomberg
A Fiat Chrysler Vehicles NV badge sits on exhibit at a Countrywide Vehicle showroom in Dubai, United Arab Emirates, on Thursday, Oct. 31, 2019. Fiat Chrysler Cars NV and PSA Group went out of their way to make their mixture as equal as doable, shedding assets, paying unique dividends and distributing board seats. It didn’t get prolonged for traders to figure out who the purchaser is.

“Stellantis stays committed to its present-day joint enterprise companions Dongfeng Motor Company and Guangzhou Automotive Group,” it explained.

Regional media Yicai reported earlier that Stellantis is in conversations to variety a new undertaking with Chinese carmakers Chery Automobile Co. Ltd. and Guangzhou Automobile Group. Stellantis is arranging to maintain 75% of the shares in the venture, which will make a range of vehicles, which includes energy successful types, according to Yicai, citing sources it did not recognize.

Stellantis may well also shut an present joint undertaking in China to offload some of its capability, the publication said.

For extra content like this, be sure to stop by us at bloomberg.com

©2021 Bloomberg L.P.

Continue Examining