In a massive deal that could equal 8.7 million vehicle sales alone, Fiat Chrysler and Peugeot announced Thursday morning that they intend to merge, making the merged company the fourth-largest carmaker in the world.

The deal would be split 50/50 with experts sharing that the merger could be worth $50 billion. In a statement, both carmakers said by joining together they can “foster innovation and meet the challenges of the auto industry with speed and capital efficiency.”

Source: https://www.reuters.com/article/us-fiat-chrysler-m-a-psa-idUSKBN1XA0S5