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Paris / Rome (dpa) - The French Peugeot manufacturer PSA and Fiat Chrysler (FCA) have completed their mega-merger to become the world's fourth largest car company.
The companies confirmed this in a joint statement on Saturday.
The new association with the name Stellantis is led by the previous PSA boss Carlos Tavares (62) and competes in the international top league VW or Toyota.
Stellantis has major pillars in Europe and North America.
The company, with its official headquarters in the Netherlands, operates 14 car brands such as Opel, Peugeot, Citroën, Jeep, Maserati and Alfa Romeo.
Around 400,000 people are employed.
Stellantis shares are scheduled to start trading Monday in Milan and Paris.
Tavares wants to speak to the media on Tuesday.
From this day on, the share should also be traded in New York.
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Before the Corona crisis, FCA and PSA together sold more than eight million vehicles and achieved an annual turnover of almost 170 billion euros.
Only Volkswagen, Toyota and the French-Japanese Renault-Nissan group were bigger in 2019.
The merger had long been prepared, the first announcement was made in October 2019.
The corona crisis and its economic consequences brought the car industry a dramatic drop in sales last year.
However, PSA and FCA stuck to their plans.
Experts anticipate that a major renovation of the new network is pending.
Tavares had previously assured that no plants should be closed.
The home countries of Peugeot and Fiat, France and Italy, have already announced that they will pay close attention to employment at Stellantis.
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Tavares had worked hard to rehabilitate Opel over the past few years, leaving many jobs behind.
Opel remains the only German brand in the new group.
The Chairman of the Board of Directors of Stellantis is John Elkann (44), grandson of the legendary Fiat patriarch Giovanni "Gianni" Agnelli (1921-2003).
According to the newspaper “Le Parisien”, the Agnelli family will be represented in the new group with around 14.4 percent.
Other larger blocks of shares are held by the Peugeot family and the French state.
The industry expert Ferdinand Dudenhöffer told the German press agency that one of the strengths of the new group are high numbers and market shares in Europe and North America.
Stellantis, on the other hand, is weakly positioned in the future Asian market.
There are also weaknesses in electric vehicles.
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© dpa-infocom, dpa: 210116-99-49656 / 3
Communication from the EU Commission, Dec. 2020
Communication PSA / FCA (French), 4.1.
Communication PSA / FCA 16.1.
(French)