From the perspective of the car market, the year 2021 starts under the sign of Stellantis, the world's fourth largest car manufacturer, which is to emerge from the merger of PSA and Fiat Chrysler (FCA). The PSA and FCA shareholder meetings are called next Monday to seal the merger that will lead to the creation of the Stellantis Group. Due to the coronavirus pandemic, the shareholders' meetings will take place via streaming.
After the green light of the general meetings, Stellantis is to be listed on the stock exchanges in Milan, Paris and New York. The merger should be completed by the end of January. The new CEO of PSA, Carlos Tavares, who is considered a tough reorganizer, will be the new CEO. John Elkann will become Chairman of the Board of Directors of the new group. The heir of the entrepreneurial family Agnelli is already FCA Chairman of the Board of Directors.
FCA's brands include Alfa Romeo, Lancia, Maserati, Dodge and Jeep. PSA controls the brands Opel, Peugeot, DS and Citroen. The individual brand names should continue to exist. The name of the future group was derived from the Latin word for star (“Stella”).
The EU competition watchdogs in Brussels gave the go-ahead for the multi-billion dollar merger of the two companies on December 21. After months of testing, the EU's competition watchdogs decided that manufacturers had to meet two obligations. On the one hand, an existing cooperation between PSA and Toyota is to be expanded, according to which PSA manufactures light commercial vehicles for Toyota for sale in the EU. On the other hand, the repair and maintenance contracts of PSA and FCA with their workshops are to be changed.
