Fiat Chrysler Automobiles NV and PSA Group Peugeot, their transatlantic union on Saturday unveiled the creation of Stellantis NV, a global car-making giant that operators say will need competition in a growing industry. change quickly.
The agreement, first agreed at the end of 2019 and agreed earlier this month by shareholders, comes as the global car industry moves rapidly to new technologies, such as vehicles electricity, and fights above trying to spend everything from the way cars are engineered and built. to how they are sold.
Stellantis, which comes from the Latin word meaning “illuminated with stars,” ranks as the third largest carmaker in the world by sales, according to 2019 figures, the latest available . At the end of Friday, it was worth more than $ 51 billion. The newly formed car company plans to start trading under the STLA ticker symbol on the Paris and Milan stock exchanges on Monday and in New York on Tuesday.
Stellantis has a major presence in North America and over a quarter of the European market, selling vehicles through a large collection of brands, from American names such as Jeep and Ram to Peugeot, Citroën and Opel in Europe and Maserati and Alpha. Romeo on the luxury head.