Fiat Chrysler Automobiles NV and Peugeot-maker PSA Group strengthened their Trans-Atlantic merger on Saturday, forming Stellantis NV, a global auto-making giant, officials say need to compete in a rapidly changing industry is.
The deal, previously agreed to at the end of 2019, was approved by shareholders earlier this month, as the global car business rapidly expanded to develop new technologies, such as electric vehicles, and to engineer and manufacture cars in every way. Trying to rise above. How they are sold.
Stellantis, derived from the Latin word meaning “shining with stars”, is the world’s third-largest auto manufacturer by sales, according to 2019 data. At the close of Friday, it was over $ 51 billion. The newly formed car company plans to start trading on Monday on Monday and New York under the ticker symbol STLA on the Paris and Milan stock exchanges.
Stellantis will have a presence in North America and more than a quarter of the market in Europe, selling vehicles through a huge collection of brands, from American names like Jeep and Ram to Peugeot, Citroën and Opel in Europe, and Mesarti and Alfa Romeo On the luxury end.