For the previous few years, Fiat Chrysler Vehicles has been trying to get married. After its advances had been spurned by the likes of General Motors and Volkswagen, a merger with France’s Renault seemed doable, till the death of FCA boss Sergio Marchionne in 2018. Then, in October, news arrived that FCA had found a new French friend—Peugeot SA. On Monday, Peugeot’s shareholders voted to approve the merger.
The brand new firm, referred to as Stellantis, will probably be headquartered in Amsterdam, Netherlands, with its shares listed on exchanges in Milan, New York, and Paris. The mixture of its 14 manufacturers will make Stellantis the world’s fourth-largest automaker, bringing Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Lancia, Maserati, and Ram (FCA’s manufacturers) along with Citroen, DS, Opel, Peugeot, and Vauxhall (PSA’s manufacturers) underneath the identical roof.
As mergers go, this one seems fairly smart. Jeep and Ram have been FCA’s two actual success tales, which has meant the corporate relying on North American gross sales. PSA, however, has no actual presence in North America however has sturdy gross sales in Europe, in addition to extra trendy automobile architectures and a extra superior electrification program.
It is doable that a few of these 14 manufacturers might go by the wayside. Chrylser is down to simply two fashions, the slightly good Pacifica minivan and the slightly antediluvian 300C. Issues are even worse at Lancia, which now makes however a single automobile, a small hatchback referred to as the Ypsilon. Nonetheless, FCA has said it has no plans to shut any crops.
PSA’s present boss, Carlos Tavares, will turn into Stellantis’ CEO, with FCA chairman John Elkann assuming the function of Stellantis chairman.