The merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA (Peugeot, Citroen, Opel) is now complete. The combined company, renamed to Stellantis, will start trading on the Euronext in Paris, Mercato Telematico in Milan, and on the New York Stock Exchange.
The merger will create an auto group with combined annual sales of around 8.1 million vehicles and deep enough pockets to fund the shift towards electrification, and take on bigger rivals Toyota and Volkswagen.
As previously announced, the Board of Directors of Stellantis is composed of two executive directors, John Elkann (Chairman) and Carlos Tavares (Chief Executive Officer), and the following nine non-executive directors, Robert Peugeot (Vice Chairman), Henri de Castries (Senior Independent Director, acting as the voorzitter under Dutch law), Andrea Agnelli, Fiona Clare Cicconi, Nicolas Dufourcq, Ann Frances Godbehere, Wan Ling Martello, Jacques de Saint-Exupéry, and Kevin Scott.
FCA and PSA have said Stellantis can cut annual costs by over 5 billion euros (USD 6.1 billion) without plant closures.
It is still too early to tell what will come out of the merger, but analysts predict that the merger will require Stellantis to re-position several of its brands moving forward. The blueprint may include RAM entering into more pickup truck segments, Jeep heading to a higher price point and more segments, and Peugeot axing its U.S. market return. It could also mean the end of Chrysler whose line-up has whittled down to the aging 300 sedan and two MPVs.
Source: Car Guides PH
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