The nameplates of Fiat Chrysler Automobiles (FCA) and Peugot (Groupe PSA) have been merged under a newly created organization, Stellantis N.V. Prior to the merger, FCA brands included Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram and Maserati. The nameplates for PSA included Peugeot, Citroën, DS, Opel and Vauxhall.
Stellantis was created to address the new era of sustainable mobility and the rapid and profound change occurring in the current environment. Its mission is to create mobility dedicated to providing freedom of movement with affordable and efficient transportation solutions.
The resulting merger of FCA and PSA has created a company of 400,000 employees with a well-established presence in Europe, North America and Latin America. It has industrial operations in more than 30 countries and has identified untapped potential in markets such as China, Africa, the Middle East, Oceania and India.
The company expects to leverage its size and economies of scale to invest in innovative mobility solutions for its customers. Stellantis is targeting €5 billion in annual synergies through implementation of smart purchasing and investment strategies, optimizing powertrain and platform utilization, applying cutting edge R&D and a continuous focus on manufacturing and tooling efficiencies.
Stellantis’ portfolio will target evolving needs as the industry continues to move towards electrification, connectivity, autonomous driving and shared ownership. Stellantis currently offers 29 electrified models and plans to introduce 10 additional vehicles by the end of this year.
“It is no coincidence that Stellantis is born precisely when our world requires a new kind of automotive company that will champion clean and intelligent solutions to provide freedom of movement for all,” says John Elkann, Stellantis Chairman of the Board. “Our global scale and reach provide us with the resources to invest in state-of-the-art technologies, distinctive excellence and unmatched choice for our customers. But it is the geographic and cultural diversity of Stellantis’ people that from day one is our greatest competitive advantage. It is they, with their energy, their knowhow and their constant commitment who make Stellantis what it is today. And it is they who day-by-day will build an even greater company for this new era of mobility.”
On January 18, the new company began trading on Euronext (Paris) and Borsa Italiana (Milan) and January 19, the company began trading on the New York Stock Exchange.