Stellantis Created – Shareholders Vote in Favor of Merger of Fiat Chrysler and Peugeot-Citroen-Opel

Source: Beta/AP Tuesday, 05.01.2021. 09:04
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The shareholders of Fiat Chrysler and PSA Peugeot voted Monday to merge and create the world’s fourth-largest auto company, AP News reports.

The new company will be called Stellantis.

PSA Peugeot CEO Carlos Tavares and FCA Chairman John Elkann spoke of the “historic” importance of the merger, which combines car companies that helped write the industrial histories of the United States, France and Italy, according to AP News.

– We are living through a profound era of change in our industry. We believe that the coming decade will redefine mobility as we know it. We and our merger partners at Groupe PSA are intent on playing a leading role in building this future. It is this intention that has brought us together – said Elkann at the online meeting of the shareholders.


The new company will produce 8.7 million cars a year and create 5 billion euros in annual savings.

The merger aims for cost savings, but it remains to be seen whether they will be able to build the brand and keep the jobs in the market that is still affected by the pandemic.
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