Fiat Chrysler and Peugeot speed up work to close the merger

PARIS (Reuters) - Working groups at car makers Fiat Chrysler (FCA) and Peugeot's owner PSA are speeding up work on closing their alliance deal despite the coronavirus crisis, PSA chief executive officer Carlos Tavares said in an internal note seen by Reuters. Tavares also said in the note the working groups were also speeding up work on synergies. The crisis triggered by the new coronavirus has virtually wiped out demand for new vehicles, pushing automakers to temporarily halt most production and leaving them needing cash

Reuters April 10, 2020 00:08:55 IST
Fiat Chrysler and Peugeot speed up work to close the merger

Fiat Chrysler and Peugeot speed up work to close the merger

PARIS (Reuters) - Working groups at car makers Fiat Chrysler (FCA) and Peugeot's owner PSA are speeding up work on closing their alliance deal despite the coronavirus crisis, PSA chief executive officer Carlos Tavares said in an internal note seen by Reuters.

Tavares also said in the note the working groups were also speeding up work on synergies.

The crisis triggered by the new coronavirus has virtually wiped out demand for new vehicles, pushing automakers to temporarily halt most production and leaving them needing cash.

(Reporting by Gilles Guillaume; Writing by Matthieu Protard; editing by David Evans)

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