Its name announced in July last year followed soon after by the reveal of the logo, the respective shareholders of Fiat-Chrysler Automobiles (FCA) and the PSA Group have approved the merger that will see the newly created Stellantis becoming an official reality on 16 January.
In a short joint statement, both automakers, whose venture will be headed by FCA Chairman John Elkann with PSA boss Carlos Tavares serving as CEO, revealed that 99% of the final vote had been in favour of the merger that would see Stellantis become the fourth largest vehicle manufacturer in the world.
“The shareholders of FCA also approved merger related matters, including adoption of the Stellantis’ Articles of Association and appointment of the previously announced members of the Board of Directors of Stellantis, in each case effective as of the date following completion of the merger,” the statement read.
First announced back in 2019, the merger will result in cost savings of a reported €3.7-billion, production of 8.7-million vehicles and a projected revenue, pre-Covid-19, of €170-billion. A total of 16 marques will make-up Stellantis with the FCA stable consisting of Abarth, Alfa Romeo, Chrysler, Dodge, Fiat and Fiat Professional, Jeep, Lancia, Maserati, Ram, SRT and Mopar and PSA out of Citroën, DS Automobiles, Opel/Vauxhall and Peugeot.