Fiat, PSA poised to win EU approval for $38 billion Stellantis merger

Fiat Chrysler and PSA are set to win EU approval for their $38 billion merger to create the world’s No.4 carmaker, people close to the matter said, as they strive to meet the industry’s dual challenges of funding cleaner vehicles and the global pandemic. The green light from the European Commission would formalise the creation of Stellantis, a carmaking group that could tap hefty profits from selling Ram pickup trucks and Jeep SUVs to U.S. drivers to fund the expensive development of zero-emissions…