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The fusion machine that will give rise to the world’s fourth largest automotive group is moving forward. A process that lasted two years of negotiations. The green light, announced by the European Commission in Brussels on December 21, paved the way for the formalization of the industrial and financial marriage between PSA and FCA-FiatChrysler.
The decision was expected but, having come before the scheduled February date, suggests that the union between the two automakers, France’s Peugeot and Citron (PSA) and Italian-American Fiat Chrysler (FCA), could be anticipated. than the calendar. The general meetings of shareholders are called on Monday, January 4 to deliberate on the birth of Stellantis, the company destined to create the fourth world group, a project worth more than 40,000 million euros: due to the pandemic, they will be broadcast with broadcast on the Psa portal.
The two groups confirmed the cooperation agreement between PSA and Toyota for utility vehicles, facilitating the entire commercial network in terms of repairs and commercial management and, at the same time, increasing the production in Europe of the models of the Japanese house. Stellantis will have to manage 15 brands, among which are some emblematic such as Jeep, Alfa Romeo, Maserati, Fiat, Peugeot, Citron, Opel, and other important brands such as Dodge, Ram and Ds, with the anticipation of reducing costs, annually, in about 5,000 million. EUR.
The new group expects to produce 8.7 million vehicles, 400,000 employees and more than 180,000 million in total turnover. Carlos Tavares, head of PSA and future helmsman of Stellantis, of which John Elkann will be president, is about to see completed the path that he has followed in the smallest details, since the December 2019 memorandum.
On November 20, a 372-page document was published detailing the decisive role that Tavares has played since the start of the operation. Not only did he convince the shareholders of both parties of the validity of this agreement, specifying that he was in charge of a team of managers capable of carrying it out, but he was also instrumental in the negotiation and on January 4, perhaps, he will communicate that the Stellantis operation could start as early as the end of the month. Therefore, tight deadlines for industrial integration.
Tavares has already spoken, before Christmas, with FCA employees around the world, thanking the important year they have lived, for having been able to face the restrictions due to the pandemic, carrying out all the necessary activities to reach the conclusion of the fusion. Now he will have to be so skilled in merging the two cultures, not just industrial, especially human, without preconceived options. At the same time addressing the future Euro 7 anti-pollution regulations to be established in 2021 and come into effect in 2025, which are shaking up the entire automotive industry.
