Stellantis—the product of a merger between Fiat Chrysler Automobiles (FCA) and France’s PSA Group—revealed its logo on Monday.
While an accompanying press release said the logo “symbolizes the rich heritage of Stellantis’ founding companies,” there is little about it that indicates Stellantis is an automaker. The dots behind the “A” reference to the Latin root of Stellantis, “stello,” which means “to brighten with stars.”
When the Stellantis name was announced in July, the company said logos for individual brands would not change. Stellantis will inherit 14 brands from FCA and PSA, including Peugeot, Citroën, DS, and Opel/Vauxhall from PSA, and Chrysler, Dodge, Jeep, Ram, Fiat, Alfa Romeo, and Maserati from FCA.
FCA and PSA Group brands
The combined automakers sold 7.9 million units globally in 2019, down from 8.7 million in 2018.
Plans for the 50/50 merger were announced in October 2019, and an agreement was signed to set the process in motion the following December. At the time, FCA and PSA said the merger process was expected to take 12-15 months, meaning it would be completed in the first quarter of 2021.
Under the previously discussed merger plan, Stellantis would be valued at more than $48 billion, with stock split 50/50 between current FCA and PSA shareholders. Current PSA CEO Carlos Tavares will serve as CEO of the merged company, and FCA chairman John Elkann will serve as chairman. Stellantis’ board will be made up of six members from PSA and five from FCA, including Elkann, who is also chairman of Ferrari, and a member of the Agnelli family, whose holding company Exor is the controlling shareholder of FCA.
Published at Mon, 09 Nov 2020 19:00:00 +0000