Become Stellantis

Fiat Chrysler and PSA complete merger to become Stellantis

MILAN -- Fiat Chrysler Automobiles and PSA Group completed their $52 billion e-up and formally merged into Stellan s.

The merger will create an auto group with combined annual sales of around 8.1 million vehicles and deep enough pockets to fund the shi to electric driving and take on bigger rivals Toyota and Volkswagen Group.

“The merger between Peugeot S.A. and Fiat Chrysler Automobiles N.V. that will lead the path to the crea on of Stellan s N.V. became eff ec ve today,” the two automakers said in a statement.

It took over a year for the Italian-American and French automakers to fi nalize the deal, during which the global economy was upended by the COVID-19 pandemic. They fi rst announced plans to merge in October 2019.

Shares in Stellan s will start trading in Milan and Paris on Monday, and in New York on Tuesday.

PSA CEO Carlos Tavares will hold his fi rst press conference as Stellan s CEO on Tuesday, a er ringing NYSE’s bell with Stellan s Chairman John Elkann, who is FCA chairman.

Analysts and investors are turning their focus to how Tavares plans to address the huge challenges facing the group – from excess produc on capacity to a woeful performance in China.

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