PSA and FCA merger completed
The $52bn merger between Groupe PSA and Fiat Chrysler Automobiles was completed during the weekend.
The new company, Stellantis, becomes the fourth largest car manufacturer in the world with an annual output of eight million vehicles, behind on Toyota, Volkswagen Group and Renault-Nissan.
Under CEO Carlos Tavares, former PSA boss, the merger brings together 14 brands, FCA’s Fiat, Alfa Romeo, Maserati and US-focused Jeep, Dodge and Ram to PSA’s traditionally Europe-focused Peugeot, Citroen, Opel-Vauxhall and DS.
FCA and PSA botg pledged not to close any plants, which includes the Vauxhall Astra factory in Ellesmere Port.