7/15/2020, 8:51 PM (Source: TeleTrader)
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PSA, FCA announce they will be called Stellantis

Fiat Chrysler Automobiles N.V. and Peugeot S.A. announced jointly on Wednesday that after their merger is completed, their new company, in which each of the automakers will have a 50% stake, will be called Stellantis. The name is derived from "stello" in Latin and means "to brighten the stars."

Stellantis will be a name used at the group level and will be a corporate brand, the companies stated. A logo for Stellantis will be revealed later on. FCA and PSA stressed that names and logos of the group's constituent brands will remain unchanged.

The auto companies expect that their merger will be completed in the first quarter of 2021. However, they will first need to obtain permission from the European Commission which launched a probe into the $50 billion merger, citing competition concerns.

Baha Breaking News (BBN) / VP