) would retain all of their car brands if their planned $50 billion merger goes ahead, the would-be chief executive of the combined group said on Friday.
FCA derives 66% of its revenue from North America compared with only 5.7% for PSA, Refinitiv Eikon data shows. Europe remains the main revenue driver for PSA. The deal, which would help the firms pool resources to meet tough new emissions rules and investments in electric and self-driving vehicles, as well as counter a broader downturn in car markers, is still at an early stage.
“As of today, I don’t see any need to scrap any of the brands if the deal came to pass. They all have their history and their strengths,” Tavares said. Tavares reaffirmed that the firms could reach billions of euros in annual cost savings without closing factories. But he did not rule out job cuts when pressed, only stating: “That’s the car industry, it’s not about PSA.”
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