Stellantis

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Stellantis N.V.
Public (N.V.)
Traded as <templatestyles src="Plainlist/styles.css"/>
ISIN NL00150001Q9
Industry
Predecessors
Founded 16 January 2021; 3 years ago (2021-01-16)
Headquarters Amsterdam[1], Netherlands[1]
Area served
 Worldwide
Key people
 <templatestyles src="Plainlist/styles.css"/>
Products Automobiles, commercial vehicles, auto parts, production systems
Brands
List
Production output
 6.049 million [lower-alpha 1] (2021)
Revenue €152.1 billion (2021)[2]
€15.3 billion (2021)[2]
€15.428 billion (2021)[2]
Total assets €171.8 billion (2021)[2]
Total equity €56.3 billion (2021)[2]
Owners <templatestyles src="Plainlist/styles.css"/>
[3]
Number of employees
 281,595[lower-alpha 2][3] (December 2021)
Subsidiaries
List
Website stellantis.com
Footnotes / references
[4][5][6][7][8]

Stellantis N.V. is a multinational automotive manufacturing corporation formed in 2021 on the basis of a 50-50 cross-border merger between the Italian-American conglomerate Fiat Chrysler Automobiles and the French PSA Group.[9][10][11] The company is headquartered in Amsterdam.

As of May 2021, Stellantis was the sixth-largest automaker worldwide, after Volkswagen Group, Toyota, the Renault–Nissan–Mitsubishi Alliance, General Motors, and Hyundai Motor Group.[12] The primary listings for the company's stock are on Milan's Borsa Italiana and on Euronext Paris.[13]

The principal activity of Stellantis is the design, development, manufacture and sale of automobiles bearing its 16 brands of Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram and Vauxhall. At the time of the merger, Stellantis had approximately 300,000 employees, a presence in more than 130 countries with manufacturing facilities in 30 countries.[14]

Etymology

The name comes from the Latin verb stello.[11] It means "(of him/her/it that) brightens with stars".[15][16][17]

History

In early 2019, Fiat Chrysler Automobiles (FCA) sought a merger with French automaker Renault and reached a provisional agreement with the company.[18] However, the behaviour of the French government during negotiations led to the abandonment of the deal; The Economist reported that "for FCA this portended future interference".[19] Nissan also had various concerns of the impact of the proposal on its alliance with Renault.[19]

Subsequently, FCA approached PSA. The merger, officially agreed in December 2019, was to create the world's fourth-largest carmaker by global vehicle sales with expected annual cost savings of €3.7 billion, or approximately $4.22 billion.[11]

On 21 December 2020, the European Commission announced its approval of the merger, while imposing minimal remedies to ensure competition in the sector.[20]

The merger was approved on 4 January 2021 by the shareholders of both FCA and PSA and the deal completed on 16 January 2021. Common shares of the new company began trading on the Milan Stock Exchange (MTA) and Euronext Paris on 18 January 2021 and on the New York Stock Exchange on 19 January 2021, in each case under the ticker symbol "STLA".[21][22][23]

"Peugeot S.A. (“PSA”) merged with and into Fiat Chrysler Automobiles N.V., with Fiat Chrysler Automobiles N.V. as the surviving company in the merger. On 17 January 2021, the combined company was renamed Stellantis N.V" [24] International Financial Reporting Standards, or IFRS, mandate the identification of the company acting as the acquirer and the company being acquired. “Based on the assessment of the indicators under IFRS 3 accounting standard and consideration of all pertinent facts and circumstances, FCA and PSA’s management determined that Peugeot S.A. is the acquirer for accounting purposes.” and "As a result, the financial statements of Stellantis N.V. in subsequent filings will represent the historical financial statements of PSA."[25] The filing notes the Stellantis board will have 11 directors, six from PSA and five from Fiat Chrysler. Additionally, the new company's first CEO, who is vested with the full authority to individually represent Stellantis, is Carlos Tavares, the former president of the PSA managing board as well as former CEO of PSA Group. He will also have a five-year term as Stellantis CEO. PSA shareholders have also paid a pre-merger premium to FCA shareholders. However, Exor, the Agnelli family company that was the largest shareholder of FCA, will hold the largest stake in Stellantis with 14.4 percent.[26] The merger agreements allow the Peugeot family to further increase its current 7.2% stake in Stellantis by up to an additional 1.5% by acquiring shares from France's state lender Bpifrance, from Dongfeng or on the market.[27]

The name Stellantis is exclusively used to identify the corporate entity, while group brand names and logos remain unchanged.[11]

In 2021 CEO Carlos Tavares issued a challenge for the group's brands to prove themselves within a 10-year window, in exchange for much-needed investment in new models and technology.[28][29][30][31]

The group plans to have 29 electrified vehicle models available by the end of 2021.[32] There are four EV platforms planned to be developed by the end of the 2020s.[33][34] Overall, the company announced more than €30bn will be invested by the end of 2021.[35] A network of charging stations started in November 2021.[36]

On 7 December 2021, Stellantis announced that sales of new vehicles in the third quarter of 2021 dropped due to issues related to the supply chain shortage of semiconductor chips used in their vehicles. CEO Tavares also announced an agreement with semiconductor manufacturer Foxconn to supply chips for the company and others in the automotive industry. The number of semiconductors contained in an automobile is in the thousands and this number is expected to increase in the foreseeable future.[37]

Brands

As of 2021 the brand portfolio of Stellantis is:[38]

Brand Founded Brand CEO
Italy Abarth 1949 Olivier François
Italy Alfa Romeo 1910 Jean-Philippe Imparato
United States Chrysler 1925 Christine Feuell[39]
France Citroën 1919 Vincent Cobée
United States Dodge 1914 Timothy Kuniskis
France DS Automobiles 2014[lower-alpha 3] Béatrice Foucher
Italy Fiat 1899 Olivier François
Italy Fiat Professional 2007
United States Jeep 1941 Christian Meunier
Italy Lancia 1906 Luca Napolitano
Italy Maserati 1914 Davide Grasso
United States Mopar 1937
Germany Opel 1862 Uwe Hochgeschurtz
France Peugeot 1810 Linda Jackson
United States Ram 2010[lower-alpha 4] Michael Koval
United Kingdom Vauxhall 1857[40] Uwe Hochgeschurtz

Ownership

Following the 50% FCA and 50% PSA merger, the owners were:[41]

Board of directors

The executive board of Stellantis is formed by 11 members. Six members come from PSA and leading shareholders (BpiFrance, FFP), included Carlos Tavares, former CEO of PSA and five others come from Fiat Chrysler Automobiles and main shareholder (Exor).

Assembly plants

Africa

Asia

Europe

Opel Eisenach
File:001 Car factory assembly line - Opel factory in Gliwice, Poland.jpg
Assembly line in Gliwice
File:003 Car dashboard manufacturing process - Opel car factory in Gliwice, Poland.jpg
Factory in Gliwice

North America

South America

Oceania

Notes

  1. ↑ shipments by consolidated subsidiaries and unconsolidated joint ventures
  2. ↑ excluding employees of joint arrangements, associates and unconsolidated subsidiaries
  3. ↑ spun-off from Citroën brand
  4. ↑ spun-off from Dodge brand

See also

References

  1. ↑ 1.0 1.1 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 2.2 2.3 2.4 Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ 3.0 3.1 Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Stellantis weighs closing production line at Italy's Melfi plant - union, Reuters, 25 March 2021
  11. ↑ 11.0 11.1 11.2 11.3 Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ "stellantis" is the genitive, singular form, male and neutral, of "stellans" - or, also, the present active participe of "stello", in that case still meaning "of (him/that who) brights with stars"
  17. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  18. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  19. ↑ 19.0 19.1 Lua error in package.lua at line 80: module 'strict' not found.
  20. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  21. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  22. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  23. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  24. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  25. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  26. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  27. ↑ 27.0 27.1 Stellantis shareholder Dongfeng sells down stake for 600 mln euros, Reuters, 8 September 2021
  28. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  29. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  30. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  31. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  32. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  33. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  34. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  35. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  36. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  37. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  38. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  39. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  40. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  41. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  42. ↑ 42.0 42.1 42.2 Lua error in package.lua at line 80: module 'strict' not found.

External links


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