Fiat Chrysler said Wednesday it is in talks with the French maker of Peugeot and Citroën cars about a possible merger, the latest example of how automakers are joining forces to survive major technological shifts in the industry.
Fiat Chrysler said in a statement that it is in talks with PSA Group “on a possible business combination.”
In its own statement on Wednesday, PSA Group, citing media reports about a potential deal between the two companies, said it “confirms there are ongoing discussions aiming at creating one of the world‘s leading automotive groups.”
If successful, the merger would give PSA access to the United States market for the first time in decades, and give Fiat Chrysler a partner to share the costs of developing new cars.
This is a developing story, and it will be updated.