With the merger between Groupe PSA and Fiat-Chrysler Automobiles finally completed, I wanted to share more updates on the name, logo, and other important details about the one merged entity going forward. I’ve got some updates as well as some information from a Carlos Tavares interview that was done on January 21, 2021, answering some FAQs and addressing important issues and questions.
The merger was first announced 15 months ago, a $52B deal in October 2019, and the deal was officially completed this past week on January 19th, 2021. That merger creates the world’s fourth-largest carmaker by volume, and is expected to reduce costs by $6.1B, 80% of which will be realized before 2025. The combined annual sales will be 8.1 million vehicles, with total annual profits of $14.5B. The new automotive group, called Stellantis, will be led by the CEO Carlos Tavares, who was the CEO of Groupe PSA prior to the merger. Current FCA CEO Mike Manley becomes the Head of Americas with respect to Strategy and Performance.
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#Stellantis #Chrysler #FCA #FCAMerger
