FCA & Peugeot merged entity to be named Stellantis
In October 2019, Fiat Chrysler Automobiles (FCA) and Groupe PSA (Peugeot) had announced a 50:50 merger. The newly formed entity has now been named as Stellantis. The company logo will be unveiled later.
The name Stellantis is derived from the Latin verb “stello” which means “to brighten with stars”. The name is also said to pay tribute to the history of both brands.
The complete process of the merger is expected to be completed in Q1 2021 after the approval of the shareholders of both companies and compliance with regulatory requirements.
The merged entity will be the fourth largest OEM in terms of vehicle sales with a combined revenue of Euro 170 billion. The merger is also expected to result in cost savings to the tune of an estimated Euro 3.7 billion due to sharing of vehicle platforms, powertrains and technology as well as bulk purchasing rates due to the combined size.
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