For Peugeot and FCA, completing their merger is just the start

TheStar Mon, Jan 04, 2021 07:27am - 3 years View Original

In this Wednesday, Feb. 26,2020 file photo, CEO of PSA Groupe Carlos Tavares arrives for the presentation of the company's 2019 full year results in Rueil-Malmaison, west of Paris. Fiat Chrysler Shareholders of Fiat Chrysler and France's PSA Group are meeting Monday, Jan. 4,2021 to vote on a merger that will create the world's fourth-largest automaker. The new company called Stellantis will be run by PSA CEO Carlos Tavares, who is known for cutting vehicles or ventures that don't make money. - AP

PARIS/MILAN/LONDON: When Carlos Tavares (pic) takes the wheel of a combined PSA and Fiat Chrysler this year he will quickly need to revive the carmaker's fortunes in China, rationalise a sprawling global empire and address massive overcapacity.

The former rally driver has proved his mettle by turning around France's biggest carmaker but will have his work cut out once it merges with its Italian-American rival to create Stellantis - the world's fourth biggest automaker.

Shareholders in Fiat Chrysler Automobiles (FCA) and PSA Group are expected to approve the deal on Monday, paving the way for the $52 billion transaction to be completed by the end of March.

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