Stellantis will be the new name of Italian automaker Fiat Chrysler and French automaker PSA Group's combined company following completion of a 50-50 merger agreement.
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Stellantis is rooted in the Latin verb “stello” meaning “to brighten with stars.”
"It draws inspiration from this new and ambitious alignment of storied automotive brands and strong company cultures that in coming together are creating one of the new leaders in the next era of mobility while at the same time preserving all the exceptional value and the values of its constituent parts," the companies said in a joint statement Wednesday.
Stellantis will be used exclusively as a corporate brand, while the names and logos of the group’s constituent brands, including Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Maserati, Ram, Peugeot, Opel and DS, will remain unchanged following completion of the merger agreement.
According to the statement, the process of identifying the new name for the merged company started following the announcement of the $50 billion deal back in October. The deal, officially signed in December, is expected to create the world's fourth-largest carmaker by volume and result in an annual cost savings of about €3.7 billion, or $4.22 billion.
The next step in the process will be the unveiling of the combined company's official logo at a later date.
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The merger is expected to be completed in the first quarter of 2021 following approval by both companies’ shareholders and satisfaction of antitrust and other regulatory requirements.