FCA, PSA Group Schedule Shareholder Meetings to Finalize Merger
The merger between Fiat Chrysler Automobiles and PSA Group is reportedly progressing smoothly, with the involved parties announcing general meetings for their respective shareholders on Wednesday. Scheduled to take place on January 4th, the summit is being held “in order to approve the merger of their companies to allow the creation of Stellantis, which will become the world’s fourth largest automobile manufacturer by volume,” according to a joint release.
The duo has already released the rather bland Stellantis logo, which is about as generic as it gets, and made concessions to appease markets concerned about how the merger might affect competitiveness. This includes taking steps to avoid achieving market dominance skirting antitrust violations in the European commercial van sector and a few similar concessions in Brazil.
Meanwhile, Stellantis has already been cleared by several antitrust authorities in the United States, China, Japan, and Russia. Corporate leadership has previously said they would like to see the merger completed by the end of the first quarter. Based on the companies’ current pace, that absolutely seems possible.
Once formed, Stellantis will be headquartered in Amsterdam. However regional HQs will continue to exist in Auburn Hills, Paris, and Milan.
[Image: FCA]
A staunch consumer advocate tracking industry trends and regulation. Before joining TTAC, Matt spent a decade working for marketing and research firms based in NYC. Clients included several of the world’s largest automakers, global tire brands, and aftermarket part suppliers. Dissatisfied with the corporate world and resentful of having to wear suits everyday, he pivoted to writing about cars. Since then, that man has become an ardent supporter of the right-to-repair movement, been interviewed on the auto industry by national radio broadcasts, driven more rental cars than anyone ever should, participated in amateur rallying events, and received the requisite minimum training as sanctioned by the SCCA. Handy with a wrench, Matt grew up surrounded by Detroit auto workers and managed to get a pizza delivery job before he was legally eligible. He later found himself driving box trucks through Manhattan, guaranteeing future sympathy for actual truckers. He continues to conduct research pertaining to the automotive sector as an independent contractor and has since moved back to his native Michigan, closer to where the cars are born. A contrarian, Matt claims to prefer understeer — stating that front and all-wheel drive vehicles cater best to his driving style.
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Re: the Stellantis name and corporate logo. One many times wonders how much money its paid to whomever comes up with these. But back to the merger; I believe this is only the prelude to additional mergers and consolidation across the automotive spectrum. Let’s see if they can manage the different cultures better than Renault-Nissan.
“Once formed, Stellantis will be headquartered in Amsterdam. However regional HQs will continue to exist in Auburn Hills, Paris, and Milan.” All three of which are places in Michigan.
Fiat HQ isnt in Milan. Its Turin , a different northern Italian city. Its where the T in the name Fiat comes from: Fabbrica Italiana Automobili Torino
Why on earth would I want to buy a bland, meaningless car assembled with bland indifference from bland workers in some boring random place? That's what this name says to me.