The marriage of carmakers PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic.
PSA Peugeot shareholders on Monday overwhelmingly approved the deal to create the world’s fourth-largest carmaker, to be called Stellantis, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies. Fiat Chrysler shareholders vote later in the day.
