MILAN — The reasons for the merger of Fiat Chrysler Automobiles and PSA Group are “stronger than ever,” FCA Chairman John Elkann said, as the COVID-19 pandemic adds to the industry’s existing challenges.
Addressing shareholders of Exor, the Agnelli family’s holding company, Elkann said Wednesday that preparatory work for the merger was proceeding “on time and as envisaged.”
FCA and Peugeot-maker PSA have agreed a tie-up to create the world’s fourth largest automaker in a deal expected to close in the first quarter of next year.
