(Reuters) - Stellantis, the carmaker forged from the merger of Fiat Chrylser and Peugeot-owner PSA, is “very confident” of delivering its planned 5 billion euros ($6.1 billion) of synergies, including 80% within four years, its new chief executive said on Tuesday.
FILE PHOTO: Carlos Tavares, chief executive officer of PSA Group, speaks during the annual results news conference at their headquarters in Rueil-Malmaison, near Paris, France, February 26, 2020.
In his first press conference as Stellantis CEO, Tavares also said he had created a task force to find out “what went wrong” for both Fiat Chrysler (FCA) and PSA in China.
The merger, completed on Saturday, has created the world’s fourth-biggest carmaker to help make the switch to the new era of electrification.
Tavares said the task force, consisting of Stellantis’ top five executives, would work on solutions for a come-back there.
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