The merger agreement between Fiat Chrysler Automobiles and the boards of French automaker Peugeot SA is in its final step, according to the people familiar with the topic. If finalized, the latest deal worth $50 Billion is said to completely revamp the international auto sector.
While there is no official announcement from both the firms at present, a possibility of the agreement getting canceled cannot be denied as officials from both the firms dig into the details of unification. However, according to the present report, there is more possibility that both the firms shortly make an official announcement of this merger. The estimated yearly cost savings among the prospective selling points to shareholders is 4 billion euros, according to the sources. These agreement discussions have achieved a green signal from the directors of Exor NV, the holding firm of Italy’s Agnelli family that manages Fiat Chrysler, the sources added.
On a similar note, Fiat Chrysler recently announced that it is constructing a new battery assembly unit in its factory at Mirafiori, Turin. The company stated that it has invested a preliminary amount of approximately 50 million euros in this project. Moreover, Fiat Chrysler stated that it will employ the batteries manufactured from the latest unit in the fully electric models to be launched by the firm in the near future.
In 2018, Fiat Chrysler had stated that during 2019–2021, it plans to invest approximately 5 billion euros in Italy. The key motive of this investment was to fill capacity utilization at the firm’s Italian factories and to roll out its foremost electric & hybrid models. The firm added that it will start working on the latest battery hub in early 2020. Moreover, Fiat Chrysler has big plans in 2020–2021 as it will be launching a range of its news models including Maserati’s foremost electric & hybrid models and a total electric version of its small 500 car.
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