PSA CEO Carlos Tavares and FCA CEO Mike Manley shake hands after signing a combined agreement that will lead to the creation of the world’s fourth-largest automaker in terms of annual sales (8.7 million vehicles).
FCA
Fiat Chrysler and French automaker PSA Group plan to name their newly merged company “STELL / NTIS”, the automakers announced Wednesday.
The name has its roots in the Latin verb “stello” which means “light up with stars,” according to a combined statement from the companies.
“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 age of mobility while preserving all of your parts exceptional value and values constituents, “the statement said.
Stellantis will be used exclusively at the corporate level. The company’s individual car brands, such as Alfa Romeo, Chrysler, Fiat, Jeep, and Peugeot, all of which have historical significance in their respective countries, will remain unchanged.
The companies hope to complete the 50-50 merger in the first quarter of next year, subject to board approvals and regulations. Stellantis is expected to create the world’s fourth largest automaker by volume.
EU antitrust regulators are conducting a four-month investigation into the deal because the proposed merger could harm competition in small vans in several European countries. Auto companies, according to Reuters, do not expect the investigation to affect the timing of the merger.
The companies signed a definite agreement in December to merge.
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