Fiat Chrysler and PSA Group sign binding merger agreement to form $67 billion company
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Fiat Chrysler (FCA) and the PSA Group have signed a definitive merger agreement.
The two companies say they will, in time, generate two-thirds of its sales from just two platforms: one for compact cars, and one for compact and mid-size models. Each platform is expected to generate around three million sales per year globally.
General Motors has seven car brands. Volkswagen Group has ten. With the planned merger of Fiat Chrysler Automobiles and Groupe PSA, the two companies will have them beat with a combined stable of thirteen brands.
And according to PSA CEO Carlos Tavares, there are no plans to get rid of any of them.
German brand Opel is surging ahead with its 'Charge!' electrification strategy, promising a total of eight electrified vehicles "in important volume segments" by 2021.
"We will electrify our entire product portfolio by 2024. Further models will follow very soon after we made the start with the Corsa-e and the Grandland X Hybrid4 this year," said Michael Lohscheller, CEO for Opel and Vauxhall.
The all-new 2019 Opel Corsa has been detailed by the German brand, with European order books opening this week.
Priced from €13,990 ($22,668) in Germany, the sixth-generation Corsa is based on the PSA Group’s CMP scalable architecture, which also underpins the likes of the new Peugeot 208.
The next-generation Opel Corsa has been leaked on an online forum, ahead of its official reveal slated for later this year.
Posted to French forum WorldScoop, the revealing images were allegedly posted to a news website by accident and taken down, though that didn't stop one user from saving hi-res files and publishing them.
