forming – All about car

PSA Peugeot Citroen Chief Executive Carlos Tavares delivers a speech during the presentation of the companys 2018 full year results, in Rueil Malmaison, west of Paris, Tuesday, February 26, 2019.Thibault Camus / Getty The rumours are true: FCA (Fiat Chrysler Automobiles) is merging with PSA, the European maker of Peugeot, Citroen, Opel and Vauxhall vehicles, both corporations confirmed in a press release October 31.According to The Detroit Free Press, the two companies struck a deal that will see a 50-50 joint shareholder-owned entity. There would be no plant closures, and the combined entity would save 3.7 billion Euro annually.The two companies will have combined revenues of 170 billion Euro, with profits of more than 11 billion Euro based on 2018 figures. The new corporation will become the fourth-largest automotive group in the world. The hope is the partnership will see more automakers come together and develop self-driving technology and electrification. Under the umbrella of a Dutch parent company, the FCA and PSA will combine with a board made up of 11 members, of which each company will nominate five. Carlos Tavares of PSA will be the CEO of the new company, while John Elkmann will retain his role as FCA Chairman.The decision is still to be finalized in a memorandum of understanding in the coming weeks, but both brands have agreed to proceed.Before his death, it was FCA CEO Sergio Marchionnes vision to create a more consolidated automotive industry, and it seems like this is helping fulfill that vision.The new company will be listed on the New York, Paris and Milan stock exchanges. It isnt clear what the group will be called
Origin: FCA and Peugeot-maker PSA confirm a 50-50 merger, forming new company

Toyota and Suzuki are reportedly in talks for a potential partnership. Toyota Motor Corp. and Suzuki Motor Corp. are strengthening their relationship by taking stakes in one another, the latest alliance in an industry thats facing sweeping changes in technology, consumer preferences and business models.Japans biggest automaker will acquire about 5 per cent of Suzuki shares for about 96 billion yen (US$907 million), while Suzuki will get a smaller holding valued at about 48 billion yen in Toyota, the automakers said in statements Wednesday.The move builds on ties established two years ago between the two carmakers and is aimed at expanding their collaboration to keep up with electric and self-driving cars, as well as growing demand for on-demand rides and new businesses that are reinventing how people get from A to B.For Toyota, the deal adds yet another automaker to the companys expanding portfolio of partnerships, which includes Mazda Motor Corp. and Subaru Corp.Suzuki said it will use 20 billion yen of the proceeds on development of new technologies including autonomous driving, and the remainder to replenish its capital. Suzuki is seeking to team up with a larger carmaker after an acrimonious split with Volkswagen. Toyota has budgeted about seven times more on research and development than Suzuki for this fiscal year, and the smaller automaker has pointed to the soaring cost of making competitive cars as a reason to join forces with a partner.Alliances are becoming ever more critical in the global auto industry, as manufacturers seek to pool resources and save costs. Ford has teamed up with Volkswagen, while Honda and General Motors are working together. Theres also the three-way alliance of Renault, Nissan and Mitsubishi, which has been on shaky ground since the arrest of former Chairman Carlos Ghosn in
Origin: Toyota, Suzuki to deepen ties, forming alliance