Recently, it has been told by Maarten Vinkhyzen, contributor at CleanTechnica regarding the plan of Fiat Chrysler to unite with PSA Group, which is parental firm of Peugeot and Citroen, calling it as a huge gamble move. A lot of comments were received by his story, among them few suggest that the union is strapping 2 dropping oil tankers altogether hoping that the combination will float somehow. It must be noted that the French government torpedoed the previous anticipated merger of Fiat Chrysler Automobiles with Renault, which owns shares of Renault in a large number and was fewer than contented by the lack of assurances that French industrial jobs will not be unfavorably affected by the merger.
Also, a big stake in PSA has been possessed by the French government and similar declarations will be pursued by them. This merger is far away from being an ended deal. Since 1979, Chrysler has been in financial distress, and was permitted by a federal loan assurance program to stay away of bankruptcy. Since then, well-established American brands like Pontiac, Mercury, Oldsmobile and Plymouth have vanished from the act but Chrysler has hitched on, thanks in no small share to the incomes resulting from the Jeep division, which was attained by it from AMC in the year 1987.
The company was bought by Mercedes-Benz in the year 1998 for $34 billon. The company was dumped on a remote equity firm, CCMG for $7.4 billion in the year 2007 after struggling for some years to make it profitable. In the early 2009, Fiat started gaining pieces of the business out of bankruptcy, confirming its achievement in the year 2014. The new firm turn out to be to recognized as FCA, Fiat Chrysler Automobiles, and was controlled by Sergio Marchionne till his demise in the year 2018. Mike Manley was his successor.