(Bloomberg) -- Fiat Chrysler Automobiles NV and PSA Group, which merged to create an auto giant, is in talks with China’s Chery Automobile Co. Ltd. and Guangzhou Automobile Group to create a joint venture, local media Yicai reported.
FCA and PSA completed its merger over the weekend, creating a new entity named Stellantis NV. The new group is planning to hold 75% of the shares in the venture, which will make a variety of vehicles from passenger cars to energy-efficient vehicles, according to Yicai, citing sources it didn’t identify.
Stellantis may also close an existing joint venture in China to offload some of its capacity, the publication said.
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