More than six months after announcing their 50:50 merger, automobile companies Peugeot SA and Fiat Chrysler on Thursday announced that the resultant corporate entity will be named Stellantis. The new company will become the world’s fourth-largest carmaker.
Stellantis has been derived from the Latin word ‘stello’ which means ‘to brighten with stars’. "Stellantis will combine the scale of a truly global business with an exceptional breadth and depth of talent, knowhow and resource capable of providing sustainable mobility solutions for the coming decades. The name’s Latin origins pay tribute to the rich history of its founding companies while the evocation of astronomy captures the true spirit of optimism, energy and renewal driving this industry-changing merger," the company said in a press statement.
While the name has been settled upon, the two are yet to unveil a logo that will go on to become the corporate brand identity. The names and the logos of the group’s two constituent brands—Fiat and Peugeot—will remain unchanged.
During the merger announcement last year, it was stated that the combined group will have a workforce of more than 400,000, total revenues of close to € 170 billion ($190 million) and annual unit sales of some 8.7 million vehicles of the brands Fiat, Alfa Romeo, Chrysler, Citroen, Dodge, DS, Jeep, Lancia, Maserati, Opel, Peugeot and Vauxhall.
The joint entity will have “the leadership, resources and scale to be at the forefront of a new era of sustainable mobility,” PSA and Fiat Chrysler said. The tie-up will “deliver approximately € 3.7 billion in estimated annual synergies.” The merger is expected to be completed by the first quarter of 2021.
The combined group would be headquartered in the Netherlands, and continue to be listed on the Paris, Milan and New York stock exchanges.