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After long journey, Fiat Chrysler, PSA to seal merger to become Stellantis

Shares in Stellantis, which will be headed by current PSA Chief Executive Carlos Tavares, will start trading in Milan and Paris on Monday, and in New York on Tuesday

Fiat | Fiat Chrysler | PSA Peugeot

Reuters  |  MILAN 

MILAN (Reuters) - Fiat Chrysler and PSA will seal their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. It took over a year for the Italian-American and French automakers to finalise the $52 billion deal, during which the global economy was upended by the COVID-19 pandemic. They first announced plans to merge in October 2019, to create a group with annual sales of around 8.1 million vehicles. Shares in Stellantis, which will ...

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First Published: Sat, January 16 2021. 06:56 IST