Fiat-Chrysler merger with PSA approved to create Stellantis, world’s fourth-largest automaker

Roma – The shareholders of the automobile group Fiat Chrysler (FCA) today, with 99.14% of the votes of its current capital, approved the merger with the French PSA to create Stellantis, the world’s fourth-largest automaker by volume, with estimated sales of more than eight million units.

FCA’s shareholders’ meeting was held shortly after the shareholders of the French group gave the almost unanimous green light (99.95% of the votes) for this operation, which will see the birth of an automotive giant, the fourth largest manufacturer in the world in terms of sales volume. , behind Volkswagen, Toyota and the Renault-Nissan-Mitsubisthi alliance.

“It is a historic merger,” said Fiat Chrysler president John Elkann in his speech at the start of the Italian group’s shareholders’ meeting, which has grown fivefold in value over the past 10 years.

“Stellantis is a union of two like-minded partners, coming together to build something unique and amazing (…) a combination of two companies that have shown extraordinary resilience and resourcefulness” and now “show a foresight to join forces to face global challenges, ”Elkann emphasized.

The new group created after the merger will be based in the Netherlands, but will remain listed on the Paris, Milan and New York stock exchanges. It will have more than 400,000 employees.