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Tuesday, 05 January 2021 20:14

Stellantis Born as PSA and FCA Shareholders Vote to Approve Merger

Written by Christopher Smith, Motor1.com

Index

...could be dropped. A particular eye falls on FCA brands such as Chrysler, which presently includes the just the Pacifica and Voyager minivans, and the 300 sedan.

 

Though billed as a merger of equals, the structure of the deal technically has PSA acquiring FCA. PSA CEO Carlos Tavares will become Stellantis CEO, while FCA CEO Mike Manley will oversee all U.S. operations.

 

The Associated Press states 40% of the planned savings from the merger will come from combining platforms among the various brands. Better purchasing power will also provide savings, notably with investments into hybrid and electric technology which both entities desperately need.

 

We thank Motor1.com for reprint permission.

 

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