Automotive: Stellantis, the union of the PSA and Fiat-Chrysler groups
The union between PSA and Fiat-Chrysler is called Stellantis.
MARCO BERTORELLO, Joël SAGET AFP / Archivos
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Stellantis is officially born this Saturday, January 16.
It is the name of the union of the PSA and Fiat-Chrysler groups.
This vast marriage would give birth to the world's fourth largest automotive group in terms of vehicles sold.
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Stellantis will house fourteen iconic brands such as Peugeot, Jeep, Fiat, Alfa Romeo and Maserati under one roof.
The new group will have more than 400,000 employees around the world for a sales volume of nearly 8 million vehicles in 2019, i.e. before the health crisis.
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: PSA and Fiat-Chrysler seal their marriage
If no factory closures are planned, this merger should allow the two groups to save money: around 5 billion euros per year, by reducing their development and construction costs.
Question of survival
Thanks to this union, Fiat-Chrysler could strengthen its presence in Europe by taking advantage of the good establishment of PSA on the Old Continent.
For its part, the French manufacturer could re-establish itself in the United States thanks to its Italian-American ally.
For industry analysts, this merger is a matter of survival in the current context where the two groups are facing the devastating effects of the health crisis.
For example, PSA announced on Thursday that its sales fell more than 27% in 2020.
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