You are using an older browser version. Please use a supported version for the best MSN experience.

Fiat-PSA Union Denies Reports of Tie-Ups With Chinese Firms

Bloomberg logoBloomberg 1/17/2021 Bloomberg News
logo: A Fiat Chrysler Automobiles NV badge sits on display at a National Auto showroom in Dubai, United Arab Emirates, on Thursday, Oct. 31, 2019. Fiat Chrysler Automobiles NV and PSA Group went out of their way to make their combination as equal as possible, shedding assets, paying special dividends and distributing board seats. It didn’t take long for investors to figure out who the buyer is. © Bloomberg A Fiat Chrysler Automobiles NV badge sits on display at a National Auto showroom in Dubai, United Arab Emirates, on Thursday, Oct. 31, 2019. Fiat Chrysler Automobiles NV and PSA Group went out of their way to make their combination as equal as possible, shedding assets, paying special dividends and distributing board seats. It didn’t take long for investors to figure out who the buyer is.

(Bloomberg) -- Stellantis NV, the newly-formed company from the merger between Fiat Chrysler Automobiles NV and PSA Group, has denied a local news report that it is in talks for a new merger with Chinese carmakers, Stellantis said Sunday in an emailed statement to Bloomberg News.

“Stellantis remains committed to its current joint venture partners Dongfeng Motor Corporation and Guangzhou Automotive Group,” it said.

Local media Yicai reported earlier that Stellantis is in discussions to form a new venture with Chinese carmakers Chery Automobile Co. Ltd. and Guangzhou Automobile Group. Stellantis is planning to hold 75% of the shares in the venture, which will make a variety of vehicles, including energy efficient ones, according to Yicai, citing sources it didn’t identify.

Stellantis may also close an existing joint venture in China to offload some of its capacity, the publication said.

For more articles like this, please visit us at bloomberg.com

©2021 Bloomberg L.P.

AdChoices
AdChoices
image beaconimage beaconimage beacon