Jing ling stellantis full#

The group planned to have 29 electrified vehicle models available by the end of 2021. In 2021, CEO Carlos Tavares issued a challenge for the group's brands to prove themselves within a 10-year window, in exchange for much-needed investment in new models and technology. The name Stellantis is exclusively used to identify the corporate entity, while group brand names and logos remain unchanged. The merger agreements allowed the Peugeot family to increase its current 7.2% stake in Stellantis by up to an additional 1.5% by acquiring shares from France's state lender Bpifrance, from Dongfeng, or on the market. However, Exor, the Agnelli family company that was the largest shareholder of FCA, held the largest stake in Stellantis with 14.4%. PSA shareholders paid a pre-merger premium to FCA shareholders.

Jing ling stellantis full#

Additionally, the new company's first CEO, vested with full authority to represent Stellantis, was Carlos Tavares, the former president of the PSA managing board, as well as former CEO of PSA Group, with a five-year term as Stellantis CEO. Per the filing, the Stellantis board had 11 directors, six from PSA and five from Fiat Chrysler. International Financial Reporting Standards, or IFRS, mandate the identification of the company acting as the acquirer and the company being acquired Peugeot is considered the acquirer for accounting purposes, and statements reflect PSA's historical records. On 17 January 2021, the combined company was renamed Stellantis N.V. PSA merged with and into Fiat Chrysler Automobiles N.V., with Fiat Chrysler Automobiles N.V. Common shares of the new company began trading on the Milan Stock Exchange and Euronext Paris on 18 January 2021 and on the New York Stock Exchange on 19 January 2021, in each case under the ticker symbol 'STLA'. The merger was approved on 4 January 2021 by the shareholders of both FCA and PSA, and the deal was completed on 16 January 2021. On 21 December 2020, the European Commission approved the merger, while imposing minimal remedies to ensure competition in the sector. The merger officially agreed to in December 2019, was to create the world's fourth-largest carmaker by global vehicle sales with expected annual cost savings of €3.7 billion, or about US$4.22 billion. Subsequently, FCA approached Peugeot S.A. Nissan also had various concerns about the impact of the proposal on its alliance with Renault. However, the behaviour of the French government during negotiations led to the abandonment of the deal The Economist reported that 'for FCA, this portended future interference'. In early 2019, Fiat Chrysler Automobiles (FCA) sought a merger with French automaker Renault and reached a provisional agreement with the company. The name comes from the Latin verb stello and carries the meaning 'of (him/her/it) that brightens with stars'.

At the time of the merger, Stellantis had approximately 300,000 employees and a presence in more than 130 countries, with manufacturing facilities in 30 countries. The principal activity of Stellantis is the design, development, manufacture, and sale of automobiles bearing its 16 brands: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram, and Vauxhall. The primary listings for the company's stock are on Milan's Borsa Italiana and on Euronext Paris. As of 2022, Stellantis is the fourth largest automaker by sales behind Toyota, Volkswagen Group, and Hyundai Motor Group. The company is headquartered in Amsterdam. is a multinational automotive manufacturing corporation formed in 2021 on the basis of a 50–50 cross-border merger between the Italian–American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group.