Carmakers FCA and PSA Peugeot confirm progress towards full merger

Fiat Chrysler and PSA Peugeot on Wednesday confirmed progress toward their full merger to create the globe's fourth-largest carmaker, with completion expected by the end of March 2021.

The merger of the Italian-American car company with its French rival, agreed last year, is aimed at creating a carmaker with the scale to confront the challenges of stricter emissions regulations and the transition to new driving technologies.

The new company will be called Stellantis.