Peugeot SA and Fiat Chrysler Automobiles merger gets a green signal from Competition Commission of India.
Groupe PSA and Fiat Chrysler announced their merger in December 2019. Now, the Competition Commission of India has approved the proposed merger between Peugeot SA (Groupe PSA) and Fiat Chrysler Automobiles N.V.
PSA is a France-based group, which deals in original equipment manufacturer and dealer of motor vehicles and passenger cars as well as light commercial vehicles. The PSA Groupe comprises of brands including Peugeot, Citroen, Opel, Vauxhall and DS.FCA (Fiat Chrylser Automotive), headquarted in London, is a automotive group engaged in designing, engineering, manufacturing, distributing and selling vehicles, components and production systems. Both automakers have presence in our market. The new merger has been approved by CCI to sale passenger vehicles and powertrains in India.
While announcing their merger in December 2019, both companies had said the merger would be the fourth largest original equipment manufacturer by volume and the third largest by revenue.
Groupe PSA will officially launch its first product under the Citroen nameplate in India in early 2021. The company will introduce the Citroen C5 Aircross SUV as a completely built-up unit (CBU). The company will start rolling out locally-developed products from the second half of 2021. The Group will launch 3 new cars – C21 compact SUV, hatchback and a mid-sized sedan – based on the CMP modular platform.
Previous media reports also suggest that Fiat could also utilise this CMP platform to develop new cars. In fact, the next-gen Fiat Punto could be based on the PSA sourced platform. This platform is compatible with different body size and different engine options including hybrid and electric.
