Fiat Chrysler, PSA Group merge to create new auto-making behemoth – Fox Business

Fiat Chrysler Automobiles NV and Peugeot-maker PSA Group cemented their trans-Atlantic merger Saturday, producing Stellantis NV, a worldwide auto-making giant that executives say will have the heft required to contend in a fast-changing industry.
The deal, first accepted in late 2019 and authorized previously this month by investors, comes as the worldwide vehicle service is quickly shifting to brand-new technologies, such as electrical automobiles, and battling upstarts trying to upend whatever from the way automobiles are crafted and built to how they are offered.
Stellantis, originated from Latin term meaning “to lighten up with stars,” ranks as the worlds third-largest automobile maker by sales, according to 2019 figures, the most recent available. At Fridays close, it deserved more than $51 billion. The freshly formed automobile company plans to begin trading under the ticker sign STLA on the Paris and Milan stock exchanges Monday and in New York on Tuesday.
Stellantis will have a major presence in North America and more than a quarter of the market in Europe, selling automobiles through an enormous collection of brand names, ranging from American names like Jeep and Ram to Peugeot, Citroën and Opel in Europe and Maserati and Alfa Romeo on the high-end end.

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