Fiat Chrysler Automobiles announced a 2021 merger with Groupe PSA that included which manufactured car brand?
Stellantis N.V. is a Dutch-based multinational automotive manufacturing corporation resulting from the merger of French automaker Groupe PSA and Italian-American automaker Fiat Chrysler Automobiles, following a 50-50 all stock basis merger agreement. The name Stellantis is exclusively used as a corporate brand, while its brands' names and logos remain unchanged.
Fiat Chrysler's portfolio of automotive brands already included Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Lancia, Maserati, and Ram Trucks. Now they have merged with Groupe PSA (owner of the Peugeot and Citroen brands among others).
The company consists of 400,000 employees, has presence in more than 130 countries with industrial operations in 30 countries. The group plans to have 39 electrified vehicles by the end of 2021.
On 21 December 2020, the European Commission announced its approval of the merger, while imposing minimal remedies in order to ensure competition in the sector.
The merger was confirmed on 4 January 2021, after a vote of shareholders from both companies and the deal was completed on 16 January 2021. The company's listing on the New York Stock Exchange occurred on 19 January 2021, under the ticker symbol "STLA".
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