Wednesday , March 3 2021

PSA and Fiat-Chrysler formalize the merger. New automotive giant changes name to Stellantis – Jornal Económico



The Italian-American Fiat-Chrysler, which owns PSA brands such as Peugeot, Citroën or Opel, and brands with the same name and brands such as Alfa Romeo, Dodge, Jeep or Lancia, announced in a joint statement that the new model has been formalized. Netherlands based company Stellantis.

Stellantis, headed by Portuguese Carlos Tavares, who is the president of PSA, will be listed on the Euronext in Paris and on the Milan financial market from Monday, and on the New York stock exchange from Tuesday.

Considering the total data of the two companies for 2019, Stellantis’ size will place it as the third largest in terms of turnover and fourth in vehicle volume with 167 billion euros. eight million, second only to Volkswagen, Toyota and the Renault-Nissan-Mitsubishi alliance.

The two companies complement each other geographically in terms of the European and North American markets, but the main challenge is the Asian market, especially China.

According to the analyst Vittoria Ferraris, heard from the Efe agency, the advantages of the merger lie in the size of the new company “necessary” for the investments required in terms of electric mobility, digitalization, connectivity and autonomous driving.

Also, analyst Andrea Giuricin said that “electrification requires billions of euros in investment, and economies of scale can evolve with common technology”.

“PSA is clearly at the forefront of the FCA in the development of electric and hybrid cars,” added Maria Teresa Bianchi, professor of business economics at the University of Rome, La Sapienza, something that will help Fiat and Chrysler.




Source link