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Stellantis will be the new name for Italian automaker Fiat Chrysler and the combined company of French automaker PSA Group after the completion of a 50-50 merger agreement.
FIAT, PSA JOINS A MERGER AGREEMENT AFTER THE DIVIDEND COURT REPORT
Stellantis has its roots in the Latin verb “stello” which means “to light up with stars”.
“Inspired by this ambitious new lineup of historic automotive brands and strong business cultures that, by coming together, create one of the new leaders in the next era of mobility while preserving all of your parts exceptional value and values constituents, “the companies said in a joint statement Wednesday.
Stellantis will be used exclusively as a corporate brand, while the names and logos of the group’s constituent brands, including Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Maserati, Ram, Peugeot, Opel and DS, will remain unchanged once the merger agreement.
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According to the statement, the process of identifying the new name for the merged company began after the announcement of the $ 50 billion deal in October. The deal, officially signed in December, is expected to create the world’s fourth largest automaker by volume and result in annual savings of around € 3.7 billion, or $ 4.22 billion.
The next step in the process will be the presentation of the official logo of the combined company at a later date.
| Heart | Security | Latest | Change | Change% |
|---|---|---|---|---|
| FCAU | FIAT CHRYSLER AUTOMOBILES NV | 10.43 | +0.15 | + 1.46% |
The merger is expected to be completed in the first quarter of 2021 after the approval of the shareholders of both companies and the satisfaction of the antitrust and other regulatory requirements.
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