PSA Group, the French owner of Peugeot, is exploring a merger with its US-Italian rival Fiat Chrysler.
After ditching a proposed merger with French rival Renault in June, Fiat Chrysler (FCA) confirmed on Wednesday its bid to pursue an alternative alliance at a time when car makers face huge investments for electrification, emission reduction and autonomous driving technologies.
A deal between the two carmakers would create a business with a combined market value of nearly $50bn.
Fiat Chrysler shares jumped 7.5% on Wall Street after the news.
The potential merger, first reported by the Wall Street Journal, would face significant political and financial hurdles.
Via WSJ/ Financial Times
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