Fiat Chrysler and PSA Group, maker of Peugeot, have officially signed off on a $50 billion merger to create the fourth-largest automaker in the world. It will take another 12 to 15 months to close the deal, the companies said, and a new name has yet to be decided. The 50-50 merger will allow the companies to share the cost of growing investments in new technology, including electric cars and autonomous vehicles. The combined auto giant will also need approval from both American and European regulators to move forward.

Source: LinkedIn https://www.linkedin.com/feed/news/a-new-auto-giant-is-born-4480507