Finalization plan for the merger of Peugeot and Fiat

Finalization of the merger plan between Peugeot and Fiat

Mike Manley, Fiat’s CEO, confirmed the news and said that he was in contact with American Fiat Chrysler executives to finalize the process. Chinese automaker Dongfeng, which previously bought a stake in Peugeot in 2014, will own about 4.5 percent of the new car giant. The new brand will launch its products under the name Stalantis, which is a Greek name derived from the word Stello meaning star.

Peugeot has left the US car market since the 1990s, but is expected to return to the US car market after merging with Fiat Chrysler. The merger of the two major global automakers was previously scheduled to take place by the end of this year, but the Corona outbreak delayed that.

A joint statement from Peugeot-Citroën and Fiat-Chrysler states: “The new car brand will have strong motivations and a strong corporate culture.” We have come together to become a new global automotive market leader who meets all the needs of customers with different tastes.

In addition to the products that will be marketed under the Stalantis brand, the brand’s subsidiaries such as Alfa Romeo, Chrysler, Jeep and Peugeot will market their own products under their own names. China will be one of the main target markets of this brand along with European countries.

In September, Peugeot and Fiat announced that the new brand would be worth about $ 38 billion. Upon completion of the merger, the Stalantis will become the fourth largest automaker in the world.

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