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

(Bloomberg) — Stellantis NV, the recently-shaped enterprise from the merger amongst Fiat Chrysler Automobiles NV and PSA Group, has denied a area news report that it is in talks for a new merger with Chinese carmakers, Stellantis stated 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.


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A Fiat Chrysler Cars NV badge sits on show at a Countrywide Car showroom in Dubai, United Arab Emirates, on Thursday, Oct. 31, 2019. Fiat Chrysler Vehicles NV and PSA Team went out of their way to make their blend as equivalent as possible, shedding assets, paying out special dividends and distributing board seats. It didn’t get prolonged for traders to determine out who the consumer is.

“Stellantis stays dedicated to its present joint enterprise companions Dongfeng Motor Corporation and Guangzhou Automotive Group,” it claimed.

Neighborhood media Yicai reported before that Stellantis is in discussions to sort a new venture with Chinese carmakers Chery Automobile Co. Ltd. and Guangzhou Auto Group. Stellantis is preparing to keep 75% of the shares in the enterprise, which will make a wide variety of automobiles, like energy effective kinds, according to Yicai, citing resources it did not recognize.

Stellantis may also shut an current joint venture in China to offload some of its capacity, the publication stated.

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