FILE PHOTO: The logos of car manufacturers Fiat and Peugeot are seen in front of dealerships of the companies in Saint-Nazaire, France, November 8, 2019. REUTERS/Stephane Mahe/File Photo
MILAN (Reuters) – The COVID-19 crisis has not delayed plans to finalise a merger between Fiat Chrysler FCA.MI and Peugeot maker PSA (PEUP.PA) to create the world’s fourth largest carmaker by the first quarter of next year, FCA’s Chairman John Elkann said on Friday.
“In spite of the huge challenges that have materialized with the Covid-19 emergency, I can confirm that the work of our teams towards the completion of the merger has continued apace and we expect to meet our objective of combining as a single company by the first quarter of next year,” Elkann said during the group’s shareholders’ meeting.
“The Covid-19 crisis has further underlined the compelling logic of this merger,” he added.
Reporting by Giulio Piovaccari, editing by Francesca Piscioneri