Fiat Chrysler Automobiles (FCA) and Groupe PSA announced their 50:50 JV in mid-December 2019
As a new business direction, Fiat Chrysler Automobiles (FCA) and French automotive group Groupe PSA has formed a new 50:50 joint venture. The agreement was initially announced on mid-December 2019 and the newly formed automotive group is titled ‘Stellantis’. A new company logo has been shared as well.
The name ‘Stellantis’ originates from the Latin word, “stello”. It means “to brighten with stars”. Stellantis takes inspiration from the “ambitious alignment of storied automotive brands”, their culture, heritage and working principles. The new automotive group aims to become one of the leaders in the “next era of mobility” without compromising on its “exceptional value and focus of the constituents”.
Stellantis combines the concepts of truly global business architecture with class-leading talent, depth of knowledge and resource collection. Sustainable mobility solutions are also a major focus for the decades to come. The Latin roots of its name further pay tribute to the “rich history of the founding companies” while the reference to astronomy signifies the “true spirit of optimism, energy and renewal”.
The Future Of Stellantis
In the official statement, both companies have confirmed that the “Stellantis” name will be used for an exclusive corporate brand. This will be followed by a formal unveiling of the ‘Stellantis’ logo (in addition to the font shown here). Names and logos of its founding brands will not see any difference.
The 50:50 merger is expected to complete in the first quarter of 2021, after receiving approval from FCA and Groupe PSA’s shareholders, important clients and other board members. One can expect a considerable below Stellantis reveals its target markets, product strategies and visions for the future.
Rumours also suggest that Stellantis might be a complete replacement of Chrysler brand. It is worth mentioning that the American-origin Chrysler has gone through several forms over the decades, namely Chrysler Corporation (1925-1998), DaimlerChrysler (1998-2007), Chrysler LLC (2007-2009), Chrysler Group (2009-2014) and Fiat Chrysler Automobiles (2014-2021).
Groupe PSA & FCA in India
While FCA India has already withdrawn the Fiat brand from the country and concentrates entirely on Jeep, Groupe PSA will soon debut with the Citroen India. Eventually, Peugeot and DS would hit out roads. Jeep India is almost ready with a mild facelift of its Compass compact crossover. On the other hand, Groupe PSA is busy setting up Citroen outlets across major cities in India. The C5 Aircross compact crossover will be the first product to go on sale.