TURIN/PARIS (Reuters) – Fiat Chrysler (FCA) on Thursday brushed off a shock lawsuit from General Motors (GM) and said it was confident of reaching a binding merger deal with Peugeot owner PSA Group by the end of this year to create the world’s fourth largest carmaker. FILE PHOTO: The logos of car manufacturers Fiat and… Continue reading Fiat Chrysler brushes off GM lawsuit, sees Peugeot deal by year end
Tag: PSA
Faurecia and Michelin formalize their joint venture and aim to create a world leader in hydrogen mobility
Faurecia and Michelin formalize their joint venture and aim to create a world leader in hydrogen mobility Built around a unique ecosystem, this joint venture is tasked with developing, producing and marketing hydrogen fuel cell systems for light vehicles, commercial vehicles and trucks as well as for other areas of electromobility. A joint venture built… Continue reading Faurecia and Michelin formalize their joint venture and aim to create a world leader in hydrogen mobility
Fiat Chrysler chairman sees Peugeot deal finalised by year-end
TURIN, Italy, Nov 21 (Reuters) – Fiat Chrysler Chairman John Elkann said on Thursday he was confident the group would finalise its tie-up with Peugeot owner PSA this year and dismissed concerns about a lawsuit launched by rival General Motors. “Judging from how both the FCA and PSA teams are working, I’m confident in saying… Continue reading Fiat Chrysler chairman sees Peugeot deal finalised by year-end
John Elkann, “By the end of the year the memorandum for the merger of FCA with Psa”
“We are working hard and relations with Peugeot have always been very good. I believe that by the end of the year we will reach the memorandum, even if it remains to be studied how the two families will find themselves in the new society, but it is beyond doubt the willingness on the part… Continue reading John Elkann, “By the end of the year the memorandum for the merger of FCA with Psa”
GM lawsuit won’t torpedo Fiat Chrysler merger with Peugeot: source
MILAN/PARIS (Reuters) – Fiat Chrysler’s (FCA) planned $50 billion merger with Peugeot owner PSA Group will not be blown off course by a shock lawsuit against FCA from General Motors, a source close to FCA said on Thursday. FILE PHOTO: The logos of car manufacturers Fiat and Peugeot are seen in front of dealerships of… Continue reading GM lawsuit won’t torpedo Fiat Chrysler merger with Peugeot: source
Fiat Chrysler says Peugeot talks progressing despite GM lawsuit
FRANKFURT, Nov 21 (Reuters) – Fiat Chrysler on Thursday said its talks with Peugeot to create the fourth-largest carmaker are going well, despite a racketeering lawsuit filed by General Motors late on Wednesday, seeking “substantial damages.” GM filed a lawsuit against Fiat Chrysler alleging that its rival bribed United Auto Workers (UAW) union officials over… Continue reading Fiat Chrysler says Peugeot talks progressing despite GM lawsuit
GM files racketeering lawsuit against FCA, saying it corrupted labor talks
CLOSE Open warfare broke out between two Detroit automakers Wednesday, with General Motors suing Fiat Chrysler Automobiles, alleging that it cost GM billions of dollars by corrupting labor talks over the past decade. GM also alleged that former FCA boss Sergio Marchionne authorized bribes and conspired with the UAW to “effectively take over GM through… Continue reading GM files racketeering lawsuit against FCA, saying it corrupted labor talks
UPDATE 1-United Auto Workers accuse union president of false accounting
DETROIT (Reuters) – The United Auto Workers (UAW) said on Wednesday it has filed charges under its bylaws against its president, accusing him of “false, misleading and inaccurate expense records” and saying those charges could lead to his removal from his elected office and expulsion from the union. FILE PHOTO: United Auto Workers President Gary… Continue reading UPDATE 1-United Auto Workers accuse union president of false accounting
@Groupe PSA: Groupe PSA: The Trémery Plant in France’s Grand Est Region Is at the Forefront of Groupe PSA’s Energy Transition
RUEIL-MALMAISON, France–(BUSINESS WIRE)–Regulatory News: Yann Vincent, Executive Vice President, Manufacturing & Supply Chain for Groupe PSA (Paris:UG) said, “Years ago we made the decision to invest in the energy transition and make our plants more flexible, as illustrated by the Trémery plant. We are very proud of all our plant employees in the Grand Est… Continue reading @Groupe PSA: Groupe PSA: The Trémery Plant in France’s Grand Est Region Is at the Forefront of Groupe PSA’s Energy Transition
UPDATE 1-GM sues FCA, alleging bribery, corruption of union bargaining process
DETROIT (Reuters) – General Motors Co (GM.N) on Wednesday filed a racketeering lawsuit against Fiat Chrysler Automobiles NV (FCHA.MI) (FCAU.N), alleging that its rival engaged in bribery over many years to corrupt the bargaining process with the United Auto Workers (UAW) union and gain wage and work practices advantages over GM. FILE PHOTO: The GM… Continue reading UPDATE 1-GM sues FCA, alleging bribery, corruption of union bargaining process