Over the past few years, FCA has been looking to marry. After his progress and rejected the likes General Motors And the VolkswagenEven a merger with French company Renault seemed possible FCA President Sergio Marchionne passed away in 2018. Then, in October, News arrived that the FCA had found a new French boyfriend—- Peugeot SA. Peugeot shareholders voted on Monday to approve the merger.
The new company, called Stellantis, is headquartered in Amsterdam, Netherlands, with shares listed on stock exchanges in Milan, New York and Paris. The Stellantis group of 14 brands will make the Stellantis Group the fourth largest automaker in the world, combining Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Lancia, Maserati and Ram (FCA brands) along with Citroen, DS, Opel and Peugeot, Vauxhall (PSA brands) under one roof.
As mergers progress, this seems very reasonable. Jeep and Ram represent true FCA success stories, which means that the company has had to rely on North American sales. On the other hand, PSA does not have a real presence in North America but does have strong sales in Europe, as well as more modern vehicle structures and a more advanced electrification program.
It’s possible that some of these 14 brands might go too far. Chrysler has only two models in history, the somewhat better Pacifica Minivan And 300 ° C pre-flood. Things are even worse for the Lancia, which now only makes one, small hatchback called the Ypsilon. However, the FCA stated that it does not plan to shut down any factories.
Current PSA President, Carlos Tavares, will become CEO of Stellantis, with FCA Chairman John Elcan taking over as President of Stellantis.