PSA & FCA complete Stellantis merger
PSA and FCA have now completed their merger, paving the way for the creation of Stellantis. The new group’s ordinary shares will start trading on Euronext in Paris and Mercato Telematico Azionario in Milan on 18 January, and on the New York Stock Exchange on 19 January, each under the symbol “STLA”.
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Stellantis will be headed by the former PSA CEO Carlos Tavares. Stellantis, which will be the fourth-largest carmaker in the world after Volkswagen, Toyota and the Renault-Nissan group, will be based in the Netherlands. Stellantis will be home to 14 car brands, including Opel, Peugeot, Citroën, Jeep, Maserati and Alfa Romeo.
The merger will certainly have an impact on the electric mobility development of these brands. It is considered likely that Stellantis will draw on three electric car platforms. In addition to the already known eCMP and eVMP platforms, according to a report from Italy published in September, FCA will also contribute a base for larger electric cars. As the news site clubalfa.it wrote at the time, the platform ‘Giorgio’ was developed for the Alfa Romeo models Giulia and Stelvio, and will be adapted by Maserati for fully electric cars with 800-volt architecture and up to three electric motors. The electric Giorgio platform would be used by the DS, Alfa Romeo, Maserati, Jeep, Dodge and Chrysler brands in their larger models.
According to a report from August, FCA is said to have already told employees and suppliers that it would discontinue developments in the B-segment, as FCA intends to use PSA’s CMP or e-CMP for its smaller vehicles after the merger. The first FCA models to be produced on the PSA platform are to be the successors to the Fiat Punto and the Fiat 500XL. Alfa Romeo would use the platform for a smaller SUV below the Tonale, which, like the 500XL, would get an all-electric version.
PSA had announced a standalone electric vehicle platform called eVMP for larger vehicles for 2023. Although this would partly overlap with FCA’s electrified Giorgio platform in terms of vehicle size, the models based on it would still be aimed at other target groups. For example, with 800-volt technology. Last summer’s announcement stated that the eVMP would cover the power spectrum up to 250 kW; a value that a triple-engine Maserati or Alfa Romeo would probably surpass. Moreover, FCA, with its Dodge and Chrysler brands, is also targeting other markets than PSA with a European-focused eVMP.
Update 20 January 2021: In a press release on the occasion of the company’s launch on the New York Stock exchange, Stellantis has promised an outlook of 39 electrified vehicles available by the end of 2021.
Regarding changes for employees of the fused companies, Stellantis said that they will be counting on the “Unwavering commitment of the 400,000 employees to exceed consumer expectations and pursue greatness,” but have mentioned no further changes for employees.
The new company began trading on 18 January on Euronext (Paris) and the Borsa Italiana (Milan) and today on the New York Stock Exchange. Stellantis also says that the company’s 2020 results will be made public on 3 March 2021.