FCA, PSA in talks over European joint venture by Drew Johnson
The proposed partnership would also cover EVs.
Fiat Chrysler Automobile is discussing a tie-up with France's PSA Group to jointly develop new cars for the European market, including electrics, a new report finds.
According those familiar with the talks, FCA and PSA have discussed the possibility of jointly developing a so-called "super platform” that would underpin new vehicles from both automakers. Vehicles based on the super platform would be sold in the European market, according to Bloomberg.
If a partnership is forged, it's likely that the two sides would also pool their resources to jointly develop electric vehicle technology. EVs represent just a fraction of the new car market today, but sales are expected to balloon to 60 million annual sales by 2040.
Both FCA and PSA haven't been shy about their desire for industry collaboration. Former FCA CEO Sergio Marchionne actively pursued joint ventures with other automakers, including General Motors. Meanwhile, PSA recently purchased Opel from GM.
FCA and PSA are keeping tight lipped about a possible partnership, but the automakers could announce plans to join forces as early as this summer.