Report: PSA’s Tavares Ponders Partnerships, Merger

PSA Group CEO Carlos Tavares reportedly is looking for ways to extend the French carmaker’s reach, including the possibility of collaboration or merger with another company.

Sources tell Bloomberg News that attractive prospects for PSA are Fiat Chrysler Automobiles, General Motors and Tata Motors’ Jaguar Land Rover unit.

But Bloomberg’s sources note that such deliberations are very preliminary, and an alliance with any of those companies would face considerable obstacles.

Last week Tavares noted that PCA’s €9 billion ($10.2 billion) in cash and declared the company “open for discussion” on collaborations. He also has described PSA as financially robust and well positioned to execute a successful shift to electrification, mobility services and autonomous-vehicle technology.

Tavares, a former chief operating officer at Renault SA, took over as PSA’s CEO five years ago. Since then he has revived the company and the chronically ailing Opel brand it acquired from GM in 2017. Last year the turnaround enabled PSA to report record sales, revenue and income.