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FIAT Chrysler and PSA Group have ceased to exist today. Now they are merged into the new multi-brand multinational company Stellantis.
This was reported by the manufacturer’s press service. The procedure for the merger of automobile giants Peugeot SA (Groupe PSA) and Fiat Chrysler Automobiles NV (FCA), announced at the end of 2019, has been officially completed.
As a result, the newly formed Stellantis corporation has united 14 well-known car brands, and the total production volume is 8.7 million vehicles per year.
As previously announced, former FCA Chairman John Elkann became Chairman of the Board and former PSA Chairman and CEO Carlos Tavare became CEO of Stellantis. As of January 16, FCA and PSA are considered abolished.
Stellantis common shares have also started trading on the Euronext in Paris and the Mercato Telematico Azionario in Milan starting today, and will appear on the New York Stock Exchange tomorrow.
As OBOZREVATEL previously reported, Geely will join forces with Baidu to create electric vehicles, while General Motors changed its logo and announced a development strategy.
