Fiat Chrysler Automobiles NV and Peugeot-maker PSA Group signed Saturday final act to merge into Stellantis NV, a global auto-making giant. Registered in the Netherlands, the group includes 14 brands: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram and Vauxhall. The company will be listed in the stock exchanges of Milan, New York and Paris. The deal was first agreed to in late 2019 and was approved earlier this month by shareholders. On December 21, 2020 the European Commission announced its approval of the merger. Stellantis, derived from Latin term meaning ” to brighten with stars,” ranks as the world’s third-largest auto maker by sales. At Friday’s close, it was worth more than $51 billion.
It will have a major presence in North America and more than a quarter of the market in Europe, selling vehicles through a massive collection of brands, ranging from American names like Jeep and Ram to Peugeot, Citroën and Opel in Europe and Maserati and Alfa Romeo on the luxury end. Carlos Tavares, the PSA chief, is now leading Stellantis which employs about 400,000 workers globally. On electric vehicles, Stellantis will be under pressure by the competitors.