The combined company is the fourth largest car manufacturer in the world after Volkswagen, Toyota and Renault-Nissan.
Nzev Stellantis is derived from the Latin verb stello, which means to spread with stars. The name will appear on corporate buildings in France, the USA, Italy and elsewhere in the world.
The companies agreed on a USD 50 billion (K 1.2 billion) market in December 2019 (vce tte here). It should be completed in the first quarter of 2021, after which the company begins to use a new name. The joint jet must be approved by shareholders at general meetings and antitrust councils, the agencies AP and Reuters wrote.
Both companies hope that, thanks to the associated conditions, they will be able to cope with weak demand and that they will be able to share the cost of producing certain vehicles, which must meet strict emission standards.
The agreement brings together the emblems of the French group Peugeot, Citron, Opel and DS with the emblems of Fiat, Chrysler, Jeep, Dodge, Maserati, Alfa Romeo and Ram. Ron’s sales of the merged group should reach about 8.7 million cars and sales of 170 billion euros (4.5 trillion K).
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