Fiat Chrysler Completes Merger With PSA Group
The Opel parent company PSA and Fiat Chrysler are forging an auto giant with European roots in the middle of the Corona circles. CEO Tavares now has to steer 14 car brands through the crisis.
The French Peugeot manufacturer PSA and Fiat Chrysler (FCA) have completed their mega merger to become the world’s fourth largest car company.
However, PSA and FCA stuck to their plans. Experts anticipate that a major reconstruction of the new network is pending. Tavares had previously assured that no plants should be closed. The home countries of Peugeot and Fiat, France and Italy, have already announced that they will pay close attention to employment at Stellantis.
Tavares had worked hard to rehabilitate Opel over the past few years, leaving many jobs by the wayside. Opel remains the only German brand in the new group.
The chairman of the Stellantis board of directors is John Elkann (44), grandson of the legendary Fiat patriarch Giovanni “Gianni” Agnelli (1921-2003). According to the newspaper “Le Parisien”, the Agnelli family will be represented in the new group with around 14.4 percent. Other larger blocks of shares are held by the Peugeot family and the French state.
Fiat Chrysler Completes Merger With PSA Group - /10