Stellantis, the company formed after the merger between Peugeot SA (PSA) and Fiat-Chrysler (FCA) will be one of the largest car manufacturing companies in the world.
In a press release on July 15, PSA said that the various automotive brands currently being made by both carmakers would be controlled by this holding company. The merger and subsequent setting up of Stellantis are expected to be completed by Q1 2021.
The merger has been under fire in recent times with the EU initiating a probe into the potential monopolization of the commercial van industry in Europe after the merger of the two entities.
According to data from the European Automobile Manufacturer’s Association, the two companies sold 945,860 vehicles in the first half of this year and held a market share of 22.1pc in the EU.
Once the merger is completed, Stellantis will be among the four largest automakers in the world and control 11 brands including Jeep, Maserati, Citroen, and Dodge.