Virus crisis has not delayed merger plans between Fiat Chrysler and PSA, Elkann says

MILAN (Reuters) – The COVID-19 crisis has not delayed plans to finalise a merger between Fiat Chrysler and Peugeot maker PSA 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)