Fiat-Chrysler merged with PSA to create Stellantis, the world’s fourth-largest carmaker

Rome – The shareholders of the Fiat Chrysler car group (FCA) have approved today with 99.14% of the votes of the present capital the merger with the French PSA to create Stellantis, the world’s fourth largest car manufacturer in terms of volume, with estimated sales of more than eight million units.

The FCA shareholders’ meeting was held shortly after the French group’s shareholders gave the green light almost unanimously (99.95% of the vote) to this operation, which will see the birth of a car giant, the world’s fourth largest manufacturer by volume of sales, behind Volkswagen, Toyota and the Renault-Nissan-Mitsubisthi alliance.

“It’s a historic merger,” Fiat Chrysler chairman John Elkann described in his speech at the start of the Italian group’s shareholders ’meeting, which has quintupled its value in the past 10 years.

“Stellantis is a union of two partners with similar ideas, who come together to build something unique and grandiose (…) a combination of two companies that have demonstrated an extraordinary capacity for endurance and ingenuity” and that now “are showing the foresight to combine its strengths to address the “global challenges” facing the automotive industry, Elkann stressed.

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