money making

The New York Times writes: “Fiat Chrysler and PSA of France announced on Thursday that they plan to merge, a combination that would create Europe’s largest carmaker and the fourth largest in the world. The announcement came after a round of board meetings on Wednesday that endorsed what the companies described as “intensive” discussions among their senior managers. The two automakers described the transaction as a way to share the enormous cost of an industrywide transition to electric and autonomous vehicles. With combined annual sales of 8.7 million vehicles and 170 billion euros, or $190 billion, the new entity would be slightly larger than General Motors in terms of cars produced, and well ahead of Ford Motor Co.”

To read the full story, please click here.

Comment on this article

You must be logged in to post a comment.