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Peugeot and Fiat are celebrating their wedding
The French Peugeot manufacturer PSA and Fiat Chrysler (FCA) merged this week to form the world's fourth largest car company.
Peugeot and Fiat are celebrating their wedding
The transatlantic group Stellantis brings together 14 car brands such as Peugeot, Citroën, Fiat, Jeep, Maserati, Alfa Romeo and Opel under its umbrella, making it the fourth largest automobile company in the world after VW, Toyota and Renault/Nissan. With a total of around 400,000 employees, PSA and FCA sold a total of more than eight million vehicles before the Covid-19 pandemic and achieved annual sales of almost 170 billion euros. Stellantis' 11-member board of directors is led by Chairman John Elkann. Carlos Tavares leads the management team as Chief Executive Officer. The company wants to use its economies of scale to invest in new mobility solutions and is aiming for annual synergies of more than 5 billion euros. These savings will be achieved by implementing intelligent purchasing and investment strategies, optimizing powertrain and platform usage, applying state-of-the-art research and development methods, and focusing on efficiency in manufacturing; no plant closures are planned. The Stellantis portfolio is to be expanded towards electrification, connectivity, autonomous driving and sharing. Stellantis already offers 29 electrified models and plans to introduce ten more vehicles by the end of this year.