Fiat Chrysler and PSA are set to win EU approval for their US$38 billion merger to create the world’s No.4 carmaker, reported Reuters.
The green light from the European Commission would formalize the creation of Stellantis, a carmaking group that could tap hefty profits from selling Ram pickup trucks and Jeep SUVs to US drivers to fund the expensive development of zero-emission vehicles for sale in Europe and China.
The all-share merger announced late last year would unite brands such as Fiat, Jeep, Dodge, Ram, and Maserati with the likes of Peugeot, Opel, and DS – while targeting annual cost cuts of €5 billion (US$6 billion) without closing factories.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.