FCA, PSA accelerate work on pending merger

PARIS — Working groups at Fiat Chrysler Automobiles and PSA Group are speeding up work on closing their merger deal despite the coronavirus crisis, PSA CEO Carlos Tavares said in an internal note seen by Reuters.

Tavares also said in the note the working groups were also speeding up work on synergies.

The crisis triggered by the new coronavirus has virtually wiped out demand for new vehicles in Europe and North America, pushing automakers to temporarily halt most production and leaving them needing cash.