Fiat Chrysler Automobiles (FCA) and Groupe PSA have announced that the corporate name of the new group will be Stellantis. Meanwhile, Groupe PSA said it remains focussed on its ambition to provide clean, safe and affordable mobility solutions.
The name Stellantis is rooted in the Latin verb “stello” meaning “to brighten with stars”. Groupe PSA and FCA said the name draws inspiration from the “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 name will be used exclusively at the Group level, as a Corporate brand. According to the manufacturers, the next step in the process will be the unveiling of a logo, which together with the name, will become the corporate brand identity.
As previously reported by ILM, FCA and Groupe PSA signed a binding Combination Agreement on December 19, 2019, providing for a 50/50 merger of their businesses to create the fourth largest global automotive OEM by volume and the third largest by revenue. With its combined financial strength and skills, the merged entity will be particularly well placed to provide innovative, clean and sustainable mobility solutions, both in a rapidly urbanising environment and in rural areas around the world, according to Groupe PSA.
Groupe PSA’s sales almost doubled in June versus May this year, in the context of the coronavirus crisis. The French Automotive Group said sales recovered strongly in June, with deliveries up 71% compared with May, in a European market down 39% in the first half of 2020, in particular in Southern Europe where the Group has a strong position, impacting negatively the market mix. The Group’s performance was also affected by the transition of the Opel/Vauxhall portfolio to future-proof models with improved CO2 emissions. Groupe PSA said it remains focussed on CO2 performance and confirms its forecast to meet European standards by the end of 2020. The Group has reported market share up 10pts in the electric vehicles (EVs) market in the first five months of the year. EVs now represent 33% of sales for the DS Automobiles brand, while Citroën launched its electrification offensive in 2020, with the mobility object Ami – 100% ëlectric and models such as SUV C5 Aircross Hybrid, ë-Jumpy, ë-SpaceTourer and new ë-C4 – 100% ëlectric just revealed in June.
References:
FCA and Groupe PSA create Stellantis – International Leather Maker. (n.d.). Retrieved July 22, 2020, from https://internationalleathermaker.com/news/fullstory.php/aid/8696/FCA_and_Groupe_PSA_create_Stellantis.html
