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Discussion Starter · #21 ·
Fiat, PSA to win EU approval for $38 billion merger: sources

The logos of car manufacturers Fiat and Peugeot are seen in front of dealerships of the companies in Saint-Nazaire

October 26, 2020


Foo Yun Chee and Giulio Piovaccari
Mon, October 26, 2020, 5:13 AM EDT


By Foo Yun Chee and Giulio Piovaccari
BRUSSELS/MILAN (Reuters) - Fiat Chrysler and PSA are set to win EU approval for their $38 billion merger to create the world's No.4 carmaker, people close to the matter said, as they strive to meet the industry's dual challenges of funding cleaner vehicles and the global pandemic.
The green light from the European Commission would formalise the creation of Stellantis, a carmaking group that could tap hefty profits from selling Ram pickup trucks and Jeep SUVs to U.S. drivers to fund the expensive development of zero-emission vehicles for sale in Europe and China.
The all-share merger announced late last year would unite brands such as Fiat, Jeep, Dodge, Ram and Maserati with the likes of Peugeot, Opel and DS - while targeting annual cost cuts of 5 billion euros ($6 billion) without closing factories.

The Commission and Italian-American group Fiat Chrysler Automobiles (FCA) declined to comment. France's PSA did not immediately respond to a request for comment.

PSA and FCA shares reversed losses after the Reuters story was published. PSA stock was last up 2% at 16.83 euros, while FCA shares were 1.9% higher at 11.31 euros.

To allay EU antitrust concerns, PSA has offered to strengthen Japanese rival Toyota Motor Corp, with which it has a van joint venture, by ramping up production and selling it vans at close to cost price, the people said.
FCA and PSA will also allow their dealers in certain cities to repair rival brands.
Following feedback from rivals and customers, the carmakers only had to tweak the wording of their concessions, with no changes to the substance, the people said.

The companies did not have to use the COVID-19 pandemic to argue for the merger, they added.
FCA and PSA have said they hope to complete the merger in the first quarter of 2021.
The challenge of switching to electric cars has been complicated by the COVID-19 pandemic.

Just last month, FCA and PSA restructured the terms of their deal to conserve cash and raised their targeted cost savings because of the economic fallout from the health crisis.

The companies have said about 40% of the savings will come from product-related expenses, 40% from purchasing and 20% from other areas, such as marketing, IT and logistics.
(1 euro = $1.1859)

 

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Discussion Starter · #22 ·


A Logo to Express the Spirit of Stellantis
IMPORTANT NOTICE
By reading the following communication, you agree to be bound by the following limitations and qualifications:

This communication is for informational purposes only and is not intended to and does not constitute an offer or invitation to exchange or sell or solicitation of an offer to subscribe for or buy, or an invitation to exchange, purchase or subscribe for, any securities, any part of the business or assets described herein, or any other interests or the solicitation of any vote or approval in any jurisdiction in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. This communication should not be construed in any manner as a recommendation to any reader of this document.

This communication is not a prospectus, product disclosure statement or other offering document for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14th 2017. An offer of securities in the United States pursuant to a business combination transaction will only be made, as may be required, through a prospectus which is part of an effective registration statement filed with the U.S. Securities and Exchange Commission (“SEC”). Shareholders of Peugeot S.A. (“PSA”) and Fiat Chrysler Automobiles N.V. (“FCA”) who are U.S. persons or are located in the United States are advised to read the registration statement when and if it is declared effective by the SEC because it will contain important information relating to the proposed transaction. A registration statement on Form F-4 in connection with the combination of FCA and PSA through a cross-border merger was filed with the SEC on November 5, 2020 but has not yet been declared effective. You may obtain copies of all documents filed with the SEC regarding the proposed transaction, documents incorporated by reference, and FCA’s SEC filings at the SEC’s website at SEC.gov | HOME. In addition, the effective registration statement will be made available for free to shareholders in the United States.



November 9, 2020 , Velizy-Villacoublay and London - Peugeot S.A. ("Groupe PSA") and Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) today reveal the logo of Stellantis, the new group that will result from their 50:50 merger.

The logo symbolizes the rich heritage of Stellantis’ founding companies and the unique combined strengths of the new group’s portfolio of 14 storied automotive brands, as well as the diverse professional backgrounds of its employees working in all of the regions. Along with the Stellantis name – whose Latin root “stello” means “to brighten with stars” – it is the visual representation of the spirit of optimism, energy and renewal of a diverse and innovative company determined to be one of the new leaders in the next era of sustainable mobility.

The unveiling of the logo is the latest step toward the completion of the merger project, which is expected to occur by the end of the first quarter of 2021, subject to customary closing conditions, including approval by both companies’ shareholders at their respective Extraordinary General Meetings and the satisfaction of antitrust and other regulatory requirements.

About FCA
Fiat Chrysler Automobiles (FCA) is a global automaker that designs, engineers, manufactures and sells vehicles in a portfolio of exciting brands, including Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep®, Lancia, Ram and Maserati. It also sells parts and services under the Mopar name and operates in the components and production systems sectors under the Comau and Teksid brands. FCA employs nearly 200,000 people around the globe. For more information regarding FCA, please visit www.fcagroup.com.

About Groupe PSA
Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all customer expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall and provides a wide array of mobility and smart services under the Free2Move brand. Its ‘Push to Pass’ strategic plan represents a first step towards the achievement of the Group’s vision to be “a global carmaker with cutting-edge efficiency and a leading mobility provider sustaining lifetime customer relationships”. An early innovator in the field of autonomous and connected cars, Groupe PSA is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia.

FORWARD-LOOKING STATEMENTS
This communication contains forward-looking statements. In particular, these forward-looking statements include statements regarding future financial performance and the expectations of FCA and PSA (the “Parties”) as to the achievement of certain targeted metrics at any future date or for any future period are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Parties’ current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.

Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the impact of the COVID-19 pandemic, the ability of PSA and FCA and/or the combined group resulting from the proposed transaction (together with the Parties, the “Companies”) to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; the Companies’ ability to expand certain of their brands globally; the Companies’ ability to offer innovative, attractive products; the Companies’ ability to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the intense level of competition in the automotive industry, which may increase due to consolidation; exposure to shortfalls in the funding of the Parties’ defined benefit pension plans; the ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the establishment and operations of financial services companies; the ability to access funding to execute the Companies’ business plans and improve their businesses, financial condition and results of operations; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in the Companies’ vehicles; the Companies’ ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with our relationships with employees, dealers and suppliers; increases in costs, disruptions of supply or shortages of raw materials; developments in labor and industrial relations and developments in applicable labor laws; exchange rate fluctuations, interest rate changes, credit risk and other market risks; political and civil unrest; earthquakes or other disasters; uncertainties as to whether the proposed business combination discussed in this document will be consummated or as to the timing thereof; the risk that the announcement of the proposed business combination may make it more difficult for the Parties to establish or maintain relationships with their employees, suppliers and other business partners or governmental entities; the risk that the businesses of the Parties will be adversely impacted during the pendency of the proposed business combination; risks related to the regulatory approvals necessary for the combination; the risk that the operations of PSA and FCA will not be integrated successfully and other risks and uncertainties.

Any forward-looking statements contained in this communication speak only as of the date of this document and the Parties disclaim any obligation to update or revise publicly forward-looking statements. Further information concerning the Parties and their businesses, including factors that could materially affect the Parties’ financial results, are included in FCA’s reports and filings with the SEC (including the registration statement on Form F-4 filed with the SEC on November 5, 2020), the AFM and CONSOB and PSA’s filings with the AMF.
 

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Discussion Starter · #23 ·
Fiat Chrysler CEO Manley to run Americas after PSA merger

Fri, December 18, 2020


DETROIT (AP) — Fiat Chrysler CEO Mike Manley will run operations in the Americas when his company merges with France’s PSA Peugeot early next year.

FCA Chairman John Elkann announced Manley’s new post on Friday in a letter to employees. Manley’s role in the merged company had been a mystery.

PSA CEO Carlos Tavares will run the overall company, to be named Stellantis. Shareholders of both companies will vote on the merger Jan. 4 to seal the deal creating the world’s fourth-largest automaker. The merger is expected to be completed by the end of March.

PSA will get six seats on the new company’s 11-member board, which will be chaired by Elkann.

The Americas, especially the U.S., are key to the new company’s success. Fiat Chrysler’s Jeep and Ram brands are highly profitable, and Tavares has long wanted to sell PSA vehicles in the U.S.

Manley has been the Italian-American automaker’s CEO for 2 1/2 years, taking over when Sergio Marchionne died in 2018.

Stellantis will have the capacity to produce 8.7 million cars a year, just behind Volkswagen, the Renault-Nissan alliance and Toyota.
 

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Discussion Starter · #24 ·
World's Newest Automaker Has Reason To Celebrate
Dec 25, 2020 by Jay Traugott


The $38 billion merger is finally happening.


This all began over a year ago when Fiat Chrysler Automobiles and French Groupe PSA announced their plan for a $38 billion 50-50 merger. The new automaker, to be called Stellantis, will encompass many major global brands, among them Fiat, Chrysler, Dodge, Jeep, Ram, Peugeot, Citroen, and Opel. Once the final agreement is signed, Stellantis will officially become the world's fourth-largest automaker. Any merger this significant must pass several regulatory hurdles and because it's an international company doing business on multiple continents, government regulators from the EU and the US had to approve of the deal. And that's what caused the final hurdle, which has now been resolved.

Reuters reports the EU antitrust authority has approved the merger, but only after company officials pledged to assist Toyota. Regulators were concerned about Stellantis' future commercial truck business becoming a monopoly in Europe and elsewhere.

2020 Dodge Charger SRT Hellcat Front-End View



Front-End View




The agreement calls for PSA to extend its small van joint venture with Toyota by increasing production and then selling those vans for reduced prices. PSA and FCA must also allow their dealers to repair Toyota vans and sell parts and accessories. "Access to a competitive market for small commercial vans is important for many self-employed and small and medium companies throughout Europe," European Competition Commissioner Margrethe Vestager said in a statement.

Needless to say, FCA and Groupe PSA are thrilled by the commission's announcement and are proceeding with a plan to approve the transaction on January 4, 2021, and will sign the final agreement no later than March 31, 2021. Once Stellantis officially exists, does this mean Peugeots will immediately be sold in the US and the Jeep Wrangler everywhere in Europe?





2017-2021 Alfa Romeo Giulia Quadrifoglio Front Side in Mption



Maserati




No, at least not in the short term. FCA wants access to PSA's small and electric vehicle platforms and battery technologies, while PSA will instantly have access to the highly lucrative North American market where trucks and SUVs continue to dominate sales, two segments where FCA thrives.
Earlier this week, it was announced FCA CEO Mike Manley has been tapped to run American operations for the new automaker and will report to PSA CEO Carlos Tavares, who will become CEO of Stellantis. Manley was previously rumored to be in the running to become the new Ferrari CEO.

Side View Driving

2020-2021 Jeep Gladiator Frontal Aspect


 

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Discussion Starter · #25 ·
Fiat Chrysler, Peugeot get green light for $52 billion carmaker

Updated 10:04, 05-Jan-2021











Fiat Chrysler (FCA) and PSA said on Monday that investors had given their blessing to a $52-billion-merger to create the world's fourth largest automaker, and shares in the new company, named Stellantis, would start trading in two weeks.

With annual production of around eight million vehicles worldwide and revenues of more than 165 billion euros ($203 billion), the newly-formed firm is expected to play a key role in the auto industry's jump into the new era of electrification.

Stellantis will have 14 brands, from FCA's Fiat, Maserati and U.S.-focused Jeep, Dodge and Ram to PSA's traditionally Europe-focused Peugeot, Citroen, Opel and DS.

FCA and PSA said they expected to complete their tie-up on January 16, ahead of an earlier indication which aimed for a closing within the first quarter of this year.

Stellantis shares will start trading in Milan and Paris on January 18, and in New York the following day, the two automakers said in a joint statement.
At two separate extraordinary shareholder meetings, held virtually earlier on Monday due to the coronavirus pandemic, investors in each group backed the merger with approval rates above 99 percent of the votes cast.
"We are ready for this merger," PSA chief executive and Stellantis future CEO Carlos Tavares said.

Tavares will have to revive the carmaker's fortunes in China, rationalize a sprawling empire and address massive overcapacity, as well as focus like its rivals on creating cleaner cars.

FCA Chairman John Elkann, the future chairman of Stellantis, said the new automaker would "play a leading role as the next decade redefines mobility."

And FCA CEO Mike Manley – who will head Stellantis' key north American operations – said 40 percent of the expected synergies form the merger, projected at more than 5 billion euros, will come from convergence of platforms and powertrains and from optimizing R&D investments.
Manley said 35 percent of synergies would be driven by savings on purchases, while another 7 percent would come from savings on sales operations and general expenses.

The remainder of the synergies are expected from the optimization of other functions including logistics, supply chain, quality and after-market operations, he added.
FCA said in a separate statement it would pay its shareholders a planned 2.9 billion euro special dividend as soon as possible after merger completion.

 

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Discussion Starter · #26 ·
Merger of FCA and Groupe PSA Has Been Completed


January 16, 2021 , Auburn Hills, Mich. - The merger between Peugeot S.A. (“Groupe PSA”) and Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA), which led to the creation of Stellantis N.V. (“Stellantis”), became effective today.

As previously announced, Stellantis’ common shares will begin trading on Euronext in Paris and on the Mercato Telematico Azionario in Milan on Monday, January 18, 2021, and on the New York Stock Exchange on Tuesday, January 19, 2021, in each case under the ticker symbol “STLA.”
 

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Discussion Starter · #27 ·
Stellantis: Building a World Leader in Sustainable Mobility
  • New company debuts with the agility, creativity and efficiency to capture the opportunities of the new era of mobility, offering innovative solutions that will help change the way society moves
  • Rich heritage stems from storied and iconic automotive brands, innovative mobility brands and deep roots in the communities in which it operates
  • Company well positioned to compete in global markets with 39 electrified vehicles available by the end of 2021
  • Significant scale with well-established commercial positions in Europe, North America and Latin America
  • Strong opening balance sheet
  • Targeting more than €5 billion of annual steady state synergies
  • Robust governance structure from Day One dedicated to creating superior value for all stakeholders
  • Unwavering commitment of the 400,000 employees to exceed consumer expectations and pursue greatness



January 19, 2021 , Auburn Hills, Mich. - Today marks the launch of Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) (“Stellantis” or “the company” or “Group”), a world leader for a new era of sustainable mobility dedicated to providing freedom of movement with distinctive, affordable and efficient transportation solutions uniquely positioned to capture the exciting opportunities of a global industry undergoing rapid and profound change.

Formed from the combination of two groups with strong track records and sound finances, Stellantis is a truly global company of 400,000 diverse, highly talented and experienced employees who design, develop, manufacture, distribute and sell vehicles and mobility solutions around the world while remaining deeply rooted in the communities in which they live and work.

The 11-member Board of Directors is led by Chairman John Elkann. Carlos Tavares as chief executive officer leads one of the most experienced and successful management teams in the industry whose diversity, experience and competitive spirit are amongst its key strengths. With a deep bench of executive talent relentlessly committed to improvement and innovation, Stellantis is well positioned to continue its founding companies’ track records of value creation for all stakeholders guided by a common principle: challenge the status quo.

With a proud heritage stretching back 125 years, Stellantis is home to a full portfolio of storied brands that have graced the road and conquered the podium in the world of motorsport. Founded by visionaries who infused these marques with passion and a competitive spirit, the brands cover the full spectrum of market segments from luxury, premium and mainstream passenger vehicles to hard-charging pickup trucks, SUVs and light commercial vehicles, as well as dedicated mobility, finance and parts and service brands.

Stellantis already has a well-established presence in three regions – Europe, North America and Latin America – in addition to significant untapped potential in important markets such as China, Africa, the Middle East, Oceania and India. With industrial operations in more than 30 countries, the company has the ability to efficiently meet and exceed consumer expectations and deliver vehicles and services of unparalleled quality in more than 130 markets.

Stellantis starts from a position of considerable strength with robust operating margins reflecting the company’s leading positions in North America, Europe and Latin America. The company expects to leverage its size and economies of scale as an enabler to invest in innovative mobility solutions for its customers, targeting annual synergies of more than €5 billion at a steady state. These synergy estimates will be achieved through the implementation of smart purchasing and investment strategies, optimizing powertrain and platform utilization, applying cutting-edge R&D and a continuous focus on manufacturing and tooling efficiencies. These synergy estimates are not based on any plant closures resulting from the transaction.

Nine governance committees will ensure an efficient operating structure from day one, including company-wide performance and strategy, planning, regions, manufacturing, brand and styling.

Stellantis’ portfolio is uniquely suited to offer distinctive, sustainable mobility solutions to meet its customers’ evolving needs, as they embrace electrification, connectivity, autonomous driving and shared ownership. As the electrified market continues to grow, Stellantis is well positioned today with 29 electrified models available and plans to introduce 10 additional vehicles by the end of this year.

The company is strongly committed to playing an active part in contributing to the societies in which it operates, as it works toward achieving a long-term goal of carbon neutrality across all products, assembly plants and other facilities.

Marking the occasion, John Elkann said: “It is no coincidence that Stellantis is born precisely when our world requires a new kind of automotive company that will champion clean and intelligent solutions to provide freedom of movement for all. Our global scale and reach provide us with the resources to invest in state-of-the-art technologies, distinctive excellence and unmatched choice for our customers. But it is the geographic and cultural diversity of Stellantis’ people that from day one is our greatest competitive advantage. It is they, with their energy, their knowhow and their constant commitment who make Stellantis what it is today. And it is they who day-by-day will build an even greater company for this new era of mobility.”

Commenting on the first day of Stellantis’ journey, Carlos Tavares said: “This is a great day. One year after we announced this project, Stellantis is born, notwithstanding the unprecedented societal and economic disruption caused by the COVID-19 pandemic. I want to warmly thank all of the teams who made this possible and also thank the entire workforce who continued to move our operations forward during this exceptional year. This demonstrates the agility, creativity and adaptability of our company, which aims to be great rather than big, determined to be much more than the sum of its parts. It is also a further signal of the new company’s determination to be a leading player in the automotive industry in this ever-changing environment. Stellantis is dedicated to 'pursuing greatness' and enhancing the well being of its employees.”

The new company began trading yesterday, January 18, on Euronext (Paris) and the Borsa Italiana (Milan) and today on the New York Stock Exchange.

Full year 2020 results will be reported on March 3, 2021.

Stellantis
Stellantis is one of the world’s leading automakers and a mobility provider, guided by a clear vision: to offer freedom of movement with distinctive, affordable and reliable mobility solutions. In addition to the Group’s rich heritage and broad geographic presence, its greatest strengths lie in its sustainable performance, depth of experience and the wide-ranging talents of employees working around the globe. Stellantis will leverage its broad and iconic brand portfolio, which was founded by visionaries who infused the marques with passion and a competitive spirit that speaks to employees and customers alike. Stellantis aspires to become the greatest, not the biggest while creating added value for all stakeholders as well as the communities in which it operates.
 

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Discussion Starter · #28 ·
Appointment of the Top Executive Team to Steer Stellantis


January 19, 2021 , Auburn Hills, Mich. - Stellantis is establishing an efficient governance from day one with the appointment of the top executive team, together with the nine dedicated committees covering company-wide performance and strategy.*

Carlos Tavares, CEO of Stellantis, said: “This highly competitive, committed and well-balanced team will leverage its combined skills and diverse backgrounds to guide Stellantis to become a great company.”

*Strategy Council, Business Review, Global Program Committee, Industrial Committee, Allocations Committee, Region Committee, Brand Committee, Styling Review, Brand Review

Chief Executive Officer - Carlos Tavares

Strategic and Performance:

  • Head of Americas: Mike Manley
  • Global Corporate Office: Silvia Vernetti
  • Chief Performance Officer: Emmanuel Delay
  • Chief Software Officer: Yves Bonnefont
  • Chief Affiliates Officer: Philippe de Rovira (sales finance, used cars, parts and service, retail network)
Region Chief Operating Officers:
  • Enlarged Europe: Maxime Picat
    • Deputy: Davide Mele
    • Eurasia: Xavier Duchemin
  • North America: Mark Stewart
  • South America: Antonio Filosa
  • Middle East and Africa: Samir Cherfan
  • China: Grégoire Olivier (interim, in charge of DPCA)
  • India and Asia Pacific: Carl Smiley
    • Asean: Christophe Musy
Brand Chief Executive Officers
Global SUV:

  • Jeep®: Christian Meunier, Synergies Referent
American Brands:
  • Chrysler: Timothy Kuniskis, Interim
  • Dodge: Timothy Kuniskis, Synergies Referent
  • Ram: Mike Koval
Core:
  • Citroën: Vincent Cobee
  • Fiat and Abarth: Olivier Francois, Synergies Referent and Global Chief Marketing Officer
Upper mainstream:
  • Opel and Vauxhall: Michael Lohscheller
  • Peugeot: Linda Jackson, Synergies Referent
Premium:
  • Alfa Romeo: Jean-Philippe Imparato, Synergies Referent
  • DS: Béatrice Foucher
  • Lancia: Luca Napolitano
Luxury:
  • Maserati: Davide Grasso
Mobility:
  • Free2Move: Brigitte Courtehoux
  • Leasys: Giacomo Carelli
Global Function Chief Officers:
  • Finance: Richard Palmer
  • Human Resources and Transformation: Xavier Chereau
  • General Counsel: Giorgio Fossati
  • Planning: Olivier Bourges
  • Purchasing and Supply Chain: Michelle Wen
  • Manufacturing: Arnaud Deboeuf
  • Design:
    • Ralph Gilles (Chrysler / Dodge / Jeep / Ram / Maserati / FIAT Latin America)
    • Jean-Pierre Ploue (Abarth / Alfa Romeo / Citroen / DS / FIAT Europe / Lancia/ Opel / Peugeot / Vauxhall)
  • Engineering: Harald Wester
    • Deputy: Patrice Lucas Cross Car Line and Project Engineering
    • Deputy: Nicolas Morel
  • CTO: (to be defined)
  • Sales and Marketing: Thierry Koskas
  • Customer Experience: Richard Schwarzwald
    • Deputy: Jean-Christophe Quemard
  • Communication and CSR: Bertrand Blaise
Stellantis
Stellantis is one of the world’s leading automakers and a mobility provider, guided by a clear vision: to offer freedom of movement with distinctive, affordable and reliable mobility solutions. In addition to the Group’s rich heritage and broad geographic presence, its greatest strengths lie in its sustainable performance, depth of experience and the wide-ranging talents of employees working around the globe. Stellantis will leverage its broad and iconic brand portfolio, which was founded by visionaries who infused the marques with passion and a competitive spirit that speaks to employees and customers alike. Stellantis aspires to become the greatest, not the biggest while creating added value for all stakeholders as well as the communities in which it operates. Follow the company on Twitter, LinkedIn, Facebook, YouTube.
 

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Discussion Starter · #29 ·


Stellantis' current brand lineup
 

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Discussion Starter · #30 ·
We Are Stellantis


Jan 19, 2021

Created through the merger of Groupe PSA and FCA Group, Stellantis is a leading global automaker and mobility provider, with a rich portfolio of iconic brands.
 

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Discussion Starter · #31 ·
Stellantis North America Sign Reveal


Jan 19, 2021

Stellantis reveals its new sign at Stellantis North America in Auburn Hills, Michigan.
 

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Discussion Starter · #32 ·
Amalgamation of FCA and PSA creates new Stellantis management team

27th January 2021


STELLANTIS, the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA has announced the appointment of its Top Executive Team and nine dedicated committees covering company-wide performance and strategy.



The Stellantis Top Executive Team consists of a strategy council with Carlos Tavares (CEO of Stellantis); Mike Manley (head of Americas); Silvia Vernetti (global corporate office); Emmanuel Delay (chief performance officer); Yves Bonnefont (chief software officer); and Philippe de Rovira (chief affiliates officer).


The regional CEOs are: Maxime Picat (Europe) with deputy Davide Mele and Eurasia manager Xavier Duchemin; Mark Stewart (North America); Antonio Filosa (South America); Samir Cherfan (Middle East and Africa); Gregoire Olivier (China); and Carl Smiley (India and Asia Pacific, including Australia) with deputy Christophe Musy for the ASEAN countries.


Brand CEOs are: Christian Meunier (Jeep); Timothy Kuniskis (Chrysler and Dodge); Mike Koval (Ram); Vincent Cobee (Citroen); Olivier Francois (Fiat and Abarth); Michael Lohscheller (Opel and Vauxhall); Linda Jackson (Peugeot); Jean-Philippe Imparato (Alfa Romeo); Beatrice Foucher (DS); Luca Napolitano (Lancia); Davide Grasso (Maserati); and Brigitte Courtehoux (Free2Move).


Design chiefs are Ralph Gilles (Chrysler, Dodge, Jeep, Ram, Maserati and Fiat Latin America); Jean-Pierre Ploue (Abarth, Alfa Romeo, Citroen, DS, Fiat Europe, Lancia, Opel, Peugeot and Vauxhall).


Head of engineering is Harald Wester with deputies Patrice Lucas and Nicolas Morel.
 

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Discussion Starter · #33 ·
Fiat Chrysler made $29M profit in its final year before Stellantis merger

March 3, 2021


Fiat Chrysler Automobiles NV posted $29 million (24 million euro) in net income for 2020, a 99% decline year-over-year as the coronavirus pandemic slashed production and demand globally.

Stellantis NV, the transatlantic merger between FCA and French rival Groupe PSA that closed in January, reported early Wednesday annual and fourth-quarter results for both automakers during which they operated as completely separate companies.

PSA posted $2.445 billion (2.022 billion euro) in consolidated income for 2020, down 44%, on $73.461 billion (60.734 billion euro) in revenue, down 19%.


Stellantis shares were rising 1.35% in pre-market trading Wednesday as the world's fourth largest automaker by volume forecasted an adjusted operating income margin between 5.5% and 7.5% for 2021 without significant COVID-19 lockdowns.

"These figures demonstrate the financial soundness of Stellantis, bringing together two strong and healthy companies," Stellantis CEO Carlos Tavares said in a statement. "Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies."

FCA made $0.02 (0.02 euro) per share on $104.839 billion (86.676 billion euro) in revenue for the year, a 20% decrease, as worldwide shipments fell 22%. Pre-tax earnings were down 44% to $4.526 billion (3.742 billion euro). The Italian American automaker had not provided an updated guidance as COVID-19 spread across the globe, halting production last spring and hitting its fleet sales to commercial and government customers. It originally had forecast a best-ever $7.7 billion in pre-tax earnings for 2020.

In the fourth quarter, FCA's net income fell 1% to $1.888 billion (1.561 billion euro) compared to the last three months of 2019. Despite the decrease, all regions as well as the Maserati brand were profitable for the first time since the first three months of 2018.

For the full year, industrial-free cash flow was down 70% to $755 million (624 million euro) from the start of 2020. Net financial expenses were $1.195 billion (988 million euro) in 2020, a 1.7% decrease.

FCA's earnings before interest and taxes in North America fell to $6.472 billion (5.5251 billion euro) in 2020. It posted an 8.9% margin in North America, slightly down from 9.1% in 2019 despite the eight-week production shutdown last spring. The automaker will give eligible hourly full-time United Auto Workers-represented employees profit-sharing checks of up to $8,010 each this year, an increase of 10% from last year after the union negotiated an increased contribution in 2019.

The region also achieved a record fourth-quarter margin of 11.4% from selling higher-priced vehicles and cuts to advertising. Stellantis this year is entering larger, more profitable SUV segments with the launch of the new three-row Jeep Grand Cherokee L SUV before the end of the month at its new $1.6 billion Mack Assembly Plant on Detroit's east side. Later this year, the plant also will produce the redesigned two-row Grand Cherokee. Warren Truck is expected to launch the larger Jeep Wagoneer and Grand Wagoneer SUVs in the second quarter.

Employees in Detroit can begin receiving COVID-19 vaccines by appointment next week. Some 1,300 workers at the Jeep Cherokee plant began receiving the shots last month in Belvidere, Illinois, where the automaker also cut 150 jobs due to low demand for the compact SUV.

FCA lost $1.110 billion (918 million euro) in Europe, after completing a turnaround plan in 2019 that included a 5,000-employee reduction. PSA did not break out its results by region. Stellantis expects to see the most cost savings in Europe by extending PSA's platforms to FCA brands like Alfa Romeo, Fiat and smaller Jeeps.

The automakers had promised not to close any plants because of the merger. But Stellantis is in talks with the U.K. government over the future of its Ellesmere Port plant producing the Vauxhall and Opel Astra small car following
Britain's departure from the European Union.

Fiat Chrysler made $7 million (6 million euro) in South America. In Asia, FCA lost $140 million (116 million euro).

FCA's Maserati lost $281 million (232 million euro) in 2020. The luxury brand began a new chapter last summer as its introduced its first electrified models and a new super sports car. In 2019, it had brought in new leadership, cut dealership stock and announced $1.8 billion in manufacturing investments in Italy.

FCA beat the annual results of at least one crosstown rival. In 2020, Ford Motor Co. recorded its first annual loss — $1.3 billion — since the Great Recession on $127.1 billion in revenue. General Motors Co.'s $6.4 billion profit on $122 billion in revenue was down 4% from 2019 when it had been hindered by a national 40-day United Auto Workers strike.
 

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Discussion Starter · #34 ·
Larry Dominique Named Senior Vice President, Alfa Romeo Brand - North America


March 8, 2021 , Auburn Hills, Mich. - Larry Dominique has been appointed Senior Vice President of Alfa Romeo Brand for North America. In this position, he has responsibility for sales and marketing strategic operations for the company’s Alfa Romeo brand in the United States, Canada and Mexico.

He will report to Mark Stewart, North America Chief Operating Officer, and functionally to Jean-Philippe Imparato, Brand Chief Executive Officer, Alfa Romeo - Stellantis.

Most recently, Dominique was President & Chief Executive Officer of PSA in North America with responsibility for all PSA North America commercial activities and planning since 2017. Prior to that, he was President of ALG in the United States from 2011 to 2015.

Dominique brings vast experience from across the automotive industry, having held several roles of increasing responsibility at Nissan (1989-2011), Chrysler Corporation (1987-1989) and General Motors (1984-1987).
 

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Discussion Starter · #35 ·
Peugeot's U.S. return officially canned as Stellantis doubles down on Alfa Romeo

March 8, 2021



Byron Hurd
Mon, March 8, 2021, 9:20 AM





Stellantis confirmed that Peugeot's return to America is off the table with the appointment of Larry Dominique to the role of senior vice president of Alfa Romeo brand for North America. Dominique was heading up PSA's efforts to revive the Peugeot brand stateside, and this new assignment signals Stellantis' intent to focus on growing Alfa's presence here.
While this is the first official confirmation that Peugeot's American return was off the table, the announcement was almost universally expected. It was confirmed early Monday by Automotive News (subscription req.) after the announcement of Dominique's new role; how he intends to steer Alfa's U.S. arm remains to be seen.
What was already good news for Chrysler is now buoying Alfa Romeo's future prospects here. While Alfas have been on sale in the U.S. since 2008, then-FCA didn't put its full weight behind a volume effort until 2017, ahead of the launch of the Giulia sedan, which was well-received by critics (ourselves included) but fell flat. The subsequent launch of the Stelvio indicated that even America's appetite for crossovers may not be enough to keep the Italian brand afloat.

2020 Alfa Romeo #Giulia Quadrifoglio vs. 2013 Dodge #Challenger SRT8 392 #exhaust comparison
 

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Discussion Starter · #36 ·
Stellantis launches Fiat e-Ducato, the group’s first electric large van

Apr 22, 2021


MILAN (Reuters) - Stellantis on Thursday launched its first fully electric large van, the Fiat e-Ducato, as part of its bid to expand its range of battery electric and hybrid vehicles.


Stellantis has said it would offer electric versions of almost all of its European line-up by 2025, as the auto industry faces regulatory pushes in Europe and China to accelerate the shift to zero-emission vehicles.


The e-Ducato, which has a range of around 370 km (230 miles) on a single charge, is already available for orders to clients and will be followed this year by other similar large vans produced by Stellantis under the Peugeot, Opel and Citroen brands.


The e-Ducato is produced in Atessa, Stellantis' only plant in Italy running almost at full capacity, but will have its electric powertrain installed in Turin's Mirafiori.


Stellantis, formed at the start of this year through the merger of Fiat Chrysler and Peugeot maker PSA, is Europe's largest light commercial vehicle maker.


It already offers full electric versions of medium-sized vans and said it would start deliveries in Europe of its first medium-sized vans powered by hydrogen fuel cells by the end of this year.

 

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Discussion Starter · #37 ·
Stellantis Named Among Top Employers for Latinas

  • Seventeenth year the company has been included in the LATINA Style Top 50 Report since the benchmark was established in 1998
  • Report is the most respected evaluation of corporate America’s employment opportunities and policies as they pertain to Latinas
  • Company is the highest rated automaker in the 2020 report



April 29, 2021 , Auburn Hills, Mich. - The editors of LATINA Style magazine have selected Stellantis as one of the 2020 Top 50 Best Companies for Latinas to Work in the U.S. The company ranked No. 15 overall and was the highest rated automaker in the 2020 report, featured in the magazine’s September 2020 issue.

The LATINA Style Top 50 (LS50) Report highlights companies that have a dedicated effort to diverse recruitment and promotion initiatives, including companies that have programs to recruit veterans and military personnel. It is considered “the most respected evaluation of corporate America’s employment opportunities and policies as they pertain to Latinas.”

This is the 17th year the company has been included in the Top 50 Report since the benchmark was established in 1998.

“Stellantis diversity and inclusion efforts are central to our business strategy and our ability to attract and retain top talent,” said Lottie Holland, Director – Diversity, Inclusion and Engagement, Stellantis–North America. “Our consistent performance over several decades on this important benchmark reflects our commitment to respecting and fully engaging all people and cultures represented in our company’s vibrant multicultural mosaic.”

LATINA Style magazine began the LS50 Report as “a quest to explore deeper into the business world and bring forth powerful and useful information on the growing importance of recruiting professional Latinas.”

In 1997, with the assistance of the U.S. Department of Labor, the U.S. Equal Employment Opportunity Commission and national Hispanic organizations, the magazine developed a comprehensive survey that is sent annually to Fortune 1000 companies. The LS50 Report, the result of that annual survey process, highlights each selected company's leadership programs, employee benefits and Latina representation in senior positions.

The report is distributed to Hispanic professional and civic organizations, national women's organizations, colleges and universities, all members of the U.S. Congress, the White House, members of the Cabinet, military and veteran’s organizations. The report is also distributed at major Hispanic and recruitment conferences.

“When I came from Mexico and joined the company in 2015, I joined the Latins in Connection (LinC) Business Resource Group and benefited from their programs and support of our employees,” said Olivia Sanchez Worley, Cost Management Program Manager at Stellantis and President of the Latins in Connection Business Resource Group. “We have amazing Latinas working for our company and volunteering for LinC and it is very gratifying that the company consistently earns this prestigious recognition from LATINA Style.

LinC is one of 11 employee-directed Business Resource Groups at Stellantis representing an array of affinity communities within the company providing members with mentorship and leadership opportunities and career connections.

“We congratulate Stellantis on the outstanding career advancement opportunities it continues to provide its employees,” said Robert Bard, President & CEO, LATINA Style magazine. “Such an outstanding record of performance can only be achieved when there is full commitment throughout the company to diversity and inclusion.”

LATINA Style Magazine
LATINA Style is the most influential publication reaching the contemporary Hispanic woman. With a national circulation of 150,000 and a readership of nearly 600,000, the magazine is unique in its ability to reach both the seasoned professional and the young Latina entering the workforce for the first time, showcasing Latina achievements in all areas, including business, science, civic affairs, education, entertainment, sports and the arts.

Stellantis
Stellantis (NYSE: STLA) is one of the world’s leading automakers and a mobility provider, guided by a clear vision to offer freedom of movement with distinctive, affordable and reliable mobility solutions. In addition to the Group’s rich heritage and broad geographic presence, its greatest strengths lie in its sustainable performance, depth of experience and the wide-ranging talents of employees working around the globe. Stellantis will leverage its broad and iconic brand portfolio, which was founded by visionaries who infused the brands with passion and a competitive spirit that speaks to employees and customers alike. Stellantis aspires to become the greatest, not the biggest, while creating added value for all stakeholders, as well as the communities in which it operates.
 

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Discussion Starter · #38 ·
Stellantis outlines its future plans, platforms through 2029

At its annual general meeting on April 15, the Stellantis Group released its fourth quarter and full-year results, including mapping out its plug-in hybrid (PHEV) and battery-electric (BEV) vehicle future for the rest of the decade.
A chart shown during a presentation illustrates the changes proposed for each platform, from the small A-segment through body-on-frame (BOF) pickup trucks and SUVs, through 2029.
In the first-generation of its electrified Common Modular Platform (eCMP), there are the Peugeot 208/2008, Opel’s Corsa/Mokka, Citroën’s C4 and DS 3 Crossback populating the B and C segments while the Fiat 500e represents the A and B segments.
For the A, B and some C segments, the eCMP second generation begins in the third quarter of next year, followed by a change to STLA Small platform in 2026. The next generation of eCMP could include an all-wheel drive Jeep update. STLA Small should have a range at least 310 miles (500 kilometers). Potential STLA Small Chrysler/Jeep vehicles include the 2026 Daytona/Laser, LeBaron/Spirit, Renegade/Raider and Vista.
For the rest of the C-segment and some D-segments, any current Stellantis electrified platforms will be in place through the third quarter of 2023 then the STLA Medium takes over. The STLA Medium segment should reach 435 miles (700 kilometers) of range. C- and D-segment models here would include the 2024 Dart, Avenger/Sebring, Concorde/Intrepid, Compass, Nitro, Chrysler NX, Cherokee, Journey, Aspen, ProMaster City, ProMaster, Caravan, Pacifica/Voyager and Town & Country.
For the rest of the D-segment and some of the E-segment, the change parallels the STLA Medium schedule but it is for the STLA Large. Already announced STLA Large models include Jeep’s Grand Cherokee (2021), Maserati’s Grecale (2021), Gran Turismo (2022), QuattroPorte (2023) and Levante (2024). The STLA Large platform should have a range of almost 500 miles or 800 kilometers. This would also encompass the 2024 Challenger, Charger, 300, Grand Cherokee, Grand Cherokee L and Durango.
For the BOF group, both electrified and internal combustion engine (ICE) platforms will run through the first quarter of 2024 before giving way to the STLA Frame, which have a range of around 310 miles (500 kilometers). STLA Frame models include the 2025 Ram 1500, Ramcharger and Wagoneer.
On April 22, Forbes announced that Alfa Romeo will kill off its Giorgio platform, despite recently joining the Stellantis Group. Why spike a multi-billion euro platform? Because Alfa Romeo never bothered to “future-proof” it for electrification.
Giorgio was a hallmark of the late Fiat Chrysler Automobiles (FCA) boss, Sergio Marchionne, and was originally planned to proliferate across 15 models. It wound up only being used for the Giulia sedan and Stelvio SUV. The Giorgio was meant to sit beneath Dodge, Chrysler, Jeep and even Maserati models, including the 300C, Challenger, Charger, Journey, Durango and Jeep’s Cherokee and Compass replacements.
Carlos Tavares, Stellantis’ CEO, emphasized on April 15 that the 14 brands under the company’s umbrella would use four platforms and all were electrified. During the week of April 22, new Alfa Romeo CEO, Jean-Phillipe Imparato, said all future Alfa Romeo models would utilize the STLA Large vehicle architecture over the Giorgio before later saying that Giorgio would be incorporated into the STLA Large.
“We must take advantage of the volumes to take all possible opportunities and bring an EV range to Alfa Romeo, but always with the touch of Alfa Romeo,” Imparato told Forbes.

 

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Stellantis CEO Says Chrysler, Other Struggling Brands Will Have 10 Years to Prove Worth


Instead of dropping the axe, Stellantis wants its brands to find their footing in the wake of the PSA/FCA merger.

May 12, 2021

ith the merger of Fiat Chrysler Automobiles and PSA Group earlier this year, Stellantis became the world's fourth-biggest automaker by volume overnight. With the company's stable containing fourteen separate auto brands, it's fair to say most were expecting new management to trim the fat, potentially killing off weaker marques—Chrysler's demise was a common rumor—to focus on their key stars. Not so, says Stellantis CEO Carlos Tavares, who this week said every single brand under the Stellantis banner will get a solid decade to sort themselves out and prove their post-merger worth.

Speaking at the Financial Times' Future of the Car event, Tavares laid out his expectations. “We’re giving each [brand] a chance, giving each a time window of 10 years and giving funding for 10 years to do a core model strategy. The CEOs need to be clear in brand promise, customers, targets and brand communications," he said. "If they succeed, great.” It's not the first time Tavares has indicated his support for the continuation of the various brands under the new company's banner. However, it is the first time that a clear timeline and strategy has been presented since the merger was completed back in January.




Alexander Migl




To recap, here's the full list of companies Tavares just pledged to keep around into the 2030s:
  • Abarth
  • Alfa Romeo
  • Chrysler
  • Citroen
  • Dodge
  • DS
  • Fiat
  • Jeep
  • Lancia
  • Maserati
  • Opel
  • Peugeot
  • Ram
  • Vauxhall
Ten years is both a long and short period of time, suggesting that the decision to maintain the full roster wasn't one taken lightly. With the length of automotive product development cycles, though, it's hard to imagine struggling brands turning around much faster. Having a decade in hand will gives names like Chrysler time to get serious about a consistent brand image and the transition to electric vehicles, and joints like Alfa Romeo a chance to find their place in the market and secure a foothold with new models. With that said, there are still some lost causes here from my vantage point. It's difficult to see a brand like Vauxhall, for example, doing much to differentiate itself on any timescale, particularly when it's lumped in with its other stablemates. The proposition to keep the Vauxhall name alive seems to be a flimsy one when Citroen, Peugeot, Opel, and even Fiat all exist to pump out affordable cars too.

Further details are thin on the ground, but expect to see a clearer outline of the future plans in presentations to shareholders over the next year. Even if the commitment is made for now, it's foreseeable that a brand or three could still be axed early if it fails to show promise five years in with no trump cards up its sleeve. Until those events come to pass, start contemplating which exotic, foreign Stellantis cars you wish you could buy in America.

 

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Stellantis to restructure dealers network to face industry changes

FILE PHOTO: A DS 4 automobile, produced by Stellantis, stands on display during its launch event in Paris

Giulio Piovaccari and Gilles Guillaume
Thu, May 20, 2021




MILAN (Reuters) - Carmaker Stellantis will completely restructure its European dealers network as it seeks to adapt to changes in the industry brought by electrification, including a boom in online sales, and achieve promised post-merger synergies.
After Stellantis was formed at the start of the year by the merger of Fiat Chrysler and Peugeot maker PSA, Chief Executive Carlos Tavares has taken action on several fronts, from cost-cutting to technology partnerships.

The world's fourth largest carmaker has promised more than 5 billion euros ($6.10 billion) in annual synergies and said 7% of them would be driven by savings on sales operations and general expenses.

Stellantis will end all current sales and service contracts with European dealers for its 14 brands, with effect from June 2023, it said in a statement seen by Reuters on Thursday.
"Customers will benefit from a multi-brand and multi-channel approach with a wider range of services," the group said.

Current contracts will be terminated at the end of this month, giving dealers a two years' notice, while the new distribution network will be selected shortly thereafter, based on objective key criteria and factors, it added.

"We are going to work with representatives of networks to establish factual criteria on which we are going to build in 2023 a performing network," a spokesman for the group said.
It was however unclear whether the process would bring to a reduction of Stellantis' network in Europe.

Stellantis said the decision was also taken in anticipation of upcoming regulatory changes in the industry.

As of June 2023, significant changes will be made to the European Union's Block Exemption Regulation (BER), which has granted antitrust exemptions to carmakers allowing them to operate franchise networks where they can dictate who sells their products and where.
Regulation is also expected to evolve to take into account changes brought about by the boom in online sales and new market players such as e-commerce platforms.

European vehicle dealer and repairer lobby CECRA said in a statement it would carefully follow the evolution of the restructuring and called for "a balanced distribution model between manufacturers and their networks after June 2023".

It also noted the Austrian Supreme Cartel Court had recently banned the Peugeot brand from tying dealer payments to customer satisfaction surveys and from subsidising prices of vehicles sold at its manufacturer-owned outlets.
($1 = 0.8197 euros)
 
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