January 15, 2021

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Peugeot-Citroën shareholders agree to merge with Fiat Chrysle …

Peugeot-Citroën shareholders agree to merge with Fiat Chrysle ...

The shareholders of the French automobile manufacturer PSA (Peugeot, Citroën and Opel) approved the merger with the Italian-American Fiat Chrysler Automobiles (FCA) almost unanimously on Monday. The merged company Stellantis becomes the fourth largest automobile manufacturer in the world.

PSA and FCA announced their merger plans late last year. Stellantis will be the umbrella group’s new name, but the individual brands (such as Opel, Peugeot, Citroën, Fiat, Chrysler, Jeep, Alfa Romeo, Lancia, Abarth and Dodge) will be retained.

Before the corona pandemic, the two groups together sold around 8.7 million vehicles per year and achieved a turnover of 170 billion euros.

The European Commission gave the go-ahead for the merger in December. Fiat Chrysler shareholders will discuss the merger on Monday afternoon.