Jeep is One Step Closer to Getting a New Parent Company

Fiat Chrysler Automobiles (FCA), the parent company of Jeep, is on the verge of finalizing a gargantuan merger with France’s Peugeot parent company. The finalized merger will create the world’s fourth-largest automaker: Stellantis. Now that PSA shareholders have taken a vote and approved the deal, FCA can consider its decade long search for a partner as coming to a close. Both General Motors and Volkswagen previously rejected FCA’s attempts at a merger. Officials suggest that the merger between the two giants is bound to yield billions of dollars in annual savings as Stellantis begins to pool its resources and accelerate the development of electric cars and electric technology. Electric and autonomous vehicles are expected to revolutionize the auto industry in the coming decade. Read the rest of this entry >>