Italian American carmaker Fiat Chrysler and French rival PSA have completed their $52 billion tie-up and formally merged into Stellantis, the two automakers said on Saturday.
The merger of FCA and Groupe PSA has been completed, the companies said in a statement.
Newly-incorporated Stellantis will be headed by current PSA Chief Executive Carlos Tavares. With combined annual sales of around 8.1 million vehicles, it ranks as world’s fourth largest automaker.
Shares in Stellantis, which is domiciled in the Netherlands, will start trading in Milan and Paris on Monday and in New York on Tuesday.
Main Photo: A view of signage at the PSA Group headquarters in Rueil-Malmaison, near Paris, France (L) and signage of Italian-US car manufacturer FCA, Fiat Chrysler Automobiles, at an office building in Frankfurt am Main, Germany. EPA-EFE/JULIEN DE ROSA / MAURITZ ANTIN