Fiat Chrysler and Peugeot SA decide on the name of the AllianceJuly 16, 2020
The merger of the two concerns, which will lead to the creation of one of the largest automotive alliances in the world, should be completed by the end of the first quarter of 2021.
The last quarter of 2019 was marked by the intention to create a huge alliance between PSA Group and Fiat Chrysler Automobiles (FCA), which was supposed to contribute to the formation of the fourth largest automaker in the world. The former head of FCA, the late Sergio Marchionne, has long sought to ally with another car manufacturer, and now the FCA has almost joined forces with Peugeot Citroen.
Now the merger has passed to the final stage. So, it should be completed by the end of the first quarter of next year. In addition, one of the largest automotive alliances will be named Stellantis.
“Stellantis is derived from Latin and means ‘illuminated by the stars’, which reflects the spirit of a new and ambitious project of two legendary car brands,” says the press service of the Italian-French company.
Earlier, we reported that the board of directors will include 11 members: five people each from the FCA and PSA, as well as one leader. The chairman of the governing body will be the current head of Peugeot-Citroen Carlos Tavares, who will also lead the team from PSA. The team leader from FCA will be Mike Manley, the current CEO of Fiat Chrysler.
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