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Stellantis N.V.
Company typePublic
ISINNL00150001Q9
Industry
Predecessors
Founded16 January 2021; 3 years ago (2021-01-16)
Headquarters
Amsterdam
,
Netherlands[1]
Area served
Worldwide
Key people
Production output
6 million[a][2] (2022)
Brands
RevenueIncrease €180 billion[2] (2022)
Increase €20 billion[2] (2022)
Increase €17 billion[2] (2022)
Total assetsIncrease €186 billion[3] (2022)
Total equityIncrease €72.4 billion[3] (2022)
Owners
[4][5]
Number of employees
272,367[b][4] (2022)
Subsidiaries
List
WebsiteOfficial website Edit this at Wikidata
Footnotes / references
[2][6][7][8][9][10][11]

Stellantis N.V. is a multinational automotive manufacturing corporation formed from the merger of the Italian–American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group.[12][13][14] The company is headquartered in Amsterdam. As of 2022, Stellantis was the world's fourth-largest automaker by sales, behind Toyota, Volkswagen Group, and Hyundai Motor Group.[15]

The company's stock is listed on the Borsa Italiana, Euronext Paris and the New York Stock Exchange.[16] Stellantis designs, manufactures, and sells automobiles bearing its 14 brands: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, and Vauxhall. At the time of the merger, Stellantis had approximately 300,000 employees, a sales presence in more than 130 countries, and manufacturing facilities in 30 countries.[17]

Etymology

The name comes from the Latin verb stello[14], in present participle with adjectival value stellans, and carries the meaning "of that (latin all-gender genitive suffix) that brightens/is adorned/belongs with stars".[18][19][20] N.V. stands for Naamloze vennootschap, meaning "nameless partnership" in Dutch, refers to a type of public company whose shareholders are anonymous.

History

In early 2019, Fiat Chrysler Automobiles (FCA) sought a merger with French automaker Renault and reached a provisional agreement with the company.[21] The behaviour of the French government during negotiations led to the abandonment of the deal; The Economist reported that "for FCA, this portended future interference".[22] Nissan also had various concerns about the impact of the proposal on its alliance with Renault.[22] Subsequently, FCA approached Peugeot S.A. (PSA). The merger agreed to in December 2019, was to create the world's fourth-largest carmaker by global vehicle sales with expected annual cost savings of €3.7 billion, or about US$4.22 billion.[14]

On 21 December 2020, the European Commission approved the merger, while imposing minimal remedies to ensure competition in the sector.[23] The merger was approved on 4 January 2021 by the shareholders of both FCA and PSA. The deal was completed on 16 January 2021. Common shares of the new company began trading on the Milan Stock Exchange and Euronext Paris on 18 January 2021 and on the New York Stock Exchange on 19 January 2021, in each case under the ticker symbol "STLA".[24][25][26]

PSA merged with and into Fiat Chrysler Automobiles N.V., with Fiat Chrysler Automobiles N.V. as the surviving company in the merger. On 17 January 2021, the combined company was renamed Stellantis N.V.[27] International Financial Reporting Standards, or IFRS, mandate the identification of the company acting as the acquirer and the company being acquired. Peugeot is considered the acquirer for accounting purposes, and statements reflect PSA's historical records.[27] Per the filing, the Stellantis board had 11 directors, six from PSA and five from Fiat Chrysler.[28]

The new company's first CEO, vested with full authority to represent Stellantis, was Carlos Tavares, the former president of the PSA managing board, as well as former CEO of PSA Group, with a five-year term as Stellantis CEO. PSA shareholders paid a pre-merger premium to FCA shareholders. Exor, the Agnelli family company that was the largest shareholder of FCA, held the largest stake in Stellantis with 14.4%.[28] The merger agreements allowed the Peugeot family to increase its current 7.2% stake in Stellantis by up to an additional 1.5% by acquiring shares from France's state lender Bpifrance, from Dongfeng, or on the market.[29]

The name Stellantis is exclusively used to identify the corporate entity, while group brand names and logos remain unchanged.[14] In 2021, CEO Carlos Tavares issued a challenge for the group's brands to prove themselves within a 10-year window, in exchange for much-needed investment in new models and technology.[30][31][32][33] The group planned to have 29 electrified vehicle models available by the end of 2021.[34] Stellantis planned to develop four EV platforms by the end of the 2020s.[35][36] Overall, the company announced more than €30bn would be invested by the end of 2021.[37]

A network of charging stations started in November 2021.[38] In the third quarter of 2021, Stellantis sales of new vehicles dropped due to issues related to the supply chain shortage of semiconductor chips used in their vehicles. Stellantis made an agreement with semiconductor manufacturer Foxconn to supply chips for the company and others in the automotive industry.[39] In June 2022, the company paused production at two French plants due to shortages in semiconductors.[40]

In May 2022, Stellantis pleaded guilty to criminal conduct and paid $300 million to settle a probe into its effort to illegally conceal the amount of pollution created by its diesel-engined vehicles. This settled a years-long probe by the United States Department of Justice into the auto maker's efforts to evade emissions requirements for more than 100,000 older models.[41] On 8 July 2022, Stellantis acquired the carsharing platform Share Now.[42][43] Stellantis placed Share Now's operational management under Free2move.[44] In November 2022, Stellantis acquired the Budapest-headquartered autonomous vehicle technology company aiMotive.[45]

On 15 February 2023, Stellantis said it would establish a new software development and engineering hub in Gliwice, Poland.[46]

On 26 October 2023, Stellantis acquired "approximately 20%" of Chinese electric vehicle manufacturer Leapmotor in a transaction worth €1.5 billion.[47] Under the terms of the agreement, Stellantis gained exclusive rights to sell, export, and manufacture Leapmotor products outside of China under the newly established joint venture Leapmotor International.[48]

Brands

The active brand portfolio of Stellantis as of 2023 is shown below.[49] This list does not contain any discontinued brands owned by the company which has been placed into dormancy either directly or by its predecessor organisations.

Brand Origin Established Brand CEO
Abarth Italy 1949 Olivier François
Alfa Romeo Italy 1910 Jean-Philippe Imparato
Chrysler United States 1925 Christine Feuell[50]
Citroën France 1919 Thierry Koskas
Dodge United States 1914 Timothy Kuniskis
DS Automobiles[note 1] France 2014 Béatrice Foucher
Fiat Italy 1899 Olivier François
Jeep United States 1943 Antonio Filosa
Lancia Italy 1906 Luca Napolitano
Maserati Italy 1914 Davide Grasso
Opel Germany 1862 Florian Huettl
Peugeot France 1810 Linda Jackson
Ram[note 2] United States 2010 Timothy Kuniskis
Vauxhall United Kingdom 1857[51] James Taylor
Notes
  1. ^ Spun off from Citroën brand
  2. ^ Spun off from Dodge brand

Ownership

Following the 50% FCA and 50% PSA merger, the owners were:[52]

Leadership

Senior management

Board of directors

The executive board of Stellantis has 11 members. Six members come from PSA and leading shareholders (Bpifrance, FFP), including Carlos Tavares, former CEO of PSA, and five others come from Fiat Chrysler Automobiles and its main shareholder, Exor.

Assembly plants

Africa

Asia

Europe

Opel Eisenach
Assembly line in Gliwice
Factory in Gliwice

North America

South America

Oceania

Former plants

Motorsport

Stellantis Motorsport is a department led by director and senior vice president Jean-Marc Finot.[61] It is responsible for the motorsport activities of the corporation's brands, divisions, and subsidiaries;

Except for Maserati, the four remaining brands belonged to PSA Motorsport, a department of the former PSA Group before the creation of Stellantis.[68]

The Stellantis Motorsport Racing Shop combines Citroën Racing, Peugeot Sport and Opel Motorsports' customer racing distribution and retail sales operations.[69] It is also known as Peugeot Citroën Racing Shop[70] and Peugeot Citroën Opel Racing Shop.[71]

The Stellantis Motorsport Cup is a rally competition run in Belgium, France and Spain using Peugeot 208 and Opel Corsa Rally4 cars.[72] The cup originated in Belgium and Luxembourg as PSA Motorsport Cup Belux.[73]

See also

Explanatory notes

  1. ^ shipments by consolidated subsidiaries and unconsolidated joint ventures
  2. ^ excluding employees of joint arrangements, associates and unconsolidated subsidiaries

References

  1. ^ "Unofficial English translation articles of association Stellantis (English)" (PDF). Stellantis.
  2. ^ a b c d e "Full Year 2022 Results" (PDF). Stellantis N.V. 22 February 2023. Retrieved 22 February 2023.
  3. ^ a b "2022 Annual Results" (PDF). Stellantis N.V. Retrieved 15 April 2023.
  4. ^ a b "Stellantis N.V. Annual Report and Form 20-F for the year ended December 31, 2022" (PDF). Stellantis. Retrieved 21 April 2023.
  5. ^ "Stellantis buys back shares worth $1 bln from Chinese JV partner Dongfeng". Reuters. 22 November 2023.
  6. ^ "Annual Report and Form 20-F for the year ended December 31, 2021" (PDF). Stellantis N.V. 25 February 2022. Retrieved 17 March 2022.
  7. ^ "Fiat-Chrysler & Peugeot Agree on Merger to Create 4th-Largest Carmaker". NPR. 19 October 2019. Retrieved 17 July 2020.
  8. ^ Beresford, Colin (19 January 2021). "It's Official: Fiat Chrysler and PSA Group Are Now Stellantis". Car and Driver.
  9. ^ "Top jobs for Stellantis: electrification, restructure Europe, compete in China". Detroit News.
  10. ^ "Stellantis Surges in Trading Debut After Fiat-PSA Merger". Bloomberg. 18 January 2021. Retrieved 19 January 2021.
  11. ^ "STLA - Stellantis NV Shareholders - CNNMoney.com". money.cnn.com.
  12. ^ "Fiat Chrysler to Be Renamed Stellantis After Merger With PSA". Wall Street Journal. 15 July 2020.
  13. ^ Stellantis weighs closing production line at Italy's Melfi plant - union, Reuters, 25 March 2021
  14. ^ a b c d "Fiat Chrysler and PSA Group rename merged automaker 'Stellantis'". Fox Business. 16 July 2020. Retrieved 20 September 2022. Stellantis is rooted in the Latin verb "stello" meaning "to brighten with stars."
  15. ^ "Top 15 Automakers in the World | Car Sales Rank Worldwide". F&I Tools.
  16. ^ Smith, Elliot (18 January 2021). "World's fourth-largest carmaker rallies on first day of trade after $52 billion merger". CNBC. Retrieved 19 June 2021.
  17. ^ "Overview". Stellantis. Retrieved 19 January 2021.
  18. ^ "stellans, stellantis M - Latin is Simple Online Dictionary". www.latin-is-simple.com. Retrieved 4 January 2021.
  19. ^ "stellantis" is the genitive, singular form, male and neutral, of "stellans" - or, also, the present active participe of "stello", in that case still meaning "of (he/that who) brights with stars"
  20. ^ "stello, stellas, stellare A, -, stellatum -". Latin is Simple Online Dictionary. Retrieved 4 January 2021.
  21. ^ "Fiat Chrysler proposes 50-50 merger with Renault". TechCrunch. Retrieved 27 May 2019.
  22. ^ a b "Braking bad: A merger of Fiat Chrysler Automobiles and Renault is no more". The Economist. London. 8 June 2019. Retrieved 16 February 2021. Sources close to FCA say that the government was constantly second-guessing and renegotiating every aspect of the deal. For FCA, this portended future interference. When France pointed the finger at Nissan as a roadblock, FCA lost patience.
  23. ^ "Mergers: Commission approves the merger of Fiat Chrysler Automobiles N.V. and Peugeot S.A., subject to conditions". European Commission (Press release). 21 December 2020.
  24. ^ "Fiat Chrysler and Peugeot shareholders vote to merge, creating world's fourth-largest car maker". NBC News. Retrieved 4 January 2021.
  25. ^ Noble, Breana. "Stellantis merger to close on Jan. 16 after PSA, FCA shareholders approve". The Detroit News. Retrieved 5 January 2021.
  26. ^ "The merger of FCA and Groupe PSA has been completed" (PDF). Retrieved 16 January 2021.
  27. ^ a b "Stellantis N.V. (formerly Fiat Chrysler Automobiles N.V.) Annual Report and Form 20-F for the year ended December 31, 2020" (PDF). Stellantis. 4 March 2021. p. 6.
  28. ^ a b Strong, Michael (24 November 2020). "Fiat Chrysler and PSA Not Exactly a "Merger of Equals"". www.thedetroitbureau.com.
  29. ^ a b Stellantis shareholder Dongfeng sells down stake for 600 mln euros, Reuters, 8 September 2021
  30. ^ Taylor, Michael (17 May 2021). "Stellantis Gives Its Alfa Romeo, Lancia And DS Brands One Last Chance". Forbes.
  31. ^ "Stellantis to give each of its 14 car brands 10 years of funding - CEO". Reuters. 14 May 2021.
  32. ^ Padeanu, Adrian (14 May 2021). "Stellantis will invest in Alfa Romeo and Lancia for the next 10 years". Motor1.com.
  33. ^ Noble, Breana (13 May 2021). "Stellantis CEO says brands have 10 years to prove their worth". Detroit News.
  34. ^ "Stellantis: Building a world leader in sustainable mobility". Stellantis. Retrieved 19 January 2021.
  35. ^ Malan, Andrea (18 April 2021). "How Stellantis will speed up its EV transition". Auto News.
  36. ^ Carson, Sean (20 April 2021). "Stellantis maps out future EV platforms with up to 497 miles of range". Auto Express.
  37. ^ "Vauxhall owner Stellantis to invest €30bn in electric vehicles". BBC News. 8 July 2021. Retrieved 9 July 2021.
  38. ^ Hampel, Carrie (16 November 2021). "Stellantis reveals details of EU charging network". electrive.com. Archived from the original on 16 November 2021.
  39. ^ "Automakers Announce Agreements to Improve Supply of Semiconductor Chips". PYMNTS.com. 13 December 2021. Retrieved 14 December 2021.
  40. ^ "Stellantis will halt production at 2 French plants". Automotive News Europe. 23 June 2022. Retrieved 25 June 2022.
  41. ^ "Stellantis pleads guilty, will pay $300 million over allegations of emissions fraud". The Verge. 25 May 2022. Retrieved 26 May 2022.
  42. ^ "Share Now: BMW und Mercedes verkaufen Carsharing an Stellantis". 3 May 2022. Archived from the original on 3 May 2022. Retrieved 3 May 2022.
  43. ^ "Share Now: Stellantis übernimmt Carsharing von BMW und Mercedes". Manager Magazin (in German). 3 May 2022. Archived from the original on 3 May 2022. Retrieved 3 May 2022.
  44. ^ "Free2move Becomes a World Leader in Mobility with Acquisition of Share Now". Stellantis. 18 July 2022. Retrieved 5 November 2022.
  45. ^ Hammerschmidt, Christoph (17 November 2022). "Stellantis acquires AI startup aiMotive". EENewsEurope. Retrieved 17 November 2022.
  46. ^ "Stellantis Will Create New Software Development Hub in Poland". MarketWatch. Retrieved 20 February 2023.
  47. ^ "Stellantis to Become a Strategic Shareholder of Leapmotor with €1.5 Billion Investment and Bolster Leapmotor's Global Electric Vehicle Business". Stellantis.com. Retrieved 30 October 2023.
  48. ^ "Stellantis' Chinese gamble". EV inFocus. 30 October 2023. Retrieved 30 October 2023.
  49. ^ "Appointment of the Top Executive Team to steer Stellantis | Stellantis". Stellantis. Retrieved 19 January 2021.
  50. ^ "Christine Feuell will join Stellantis as Chrysler Brand CEO". Stellantis (Press release). 7 September 2021.
  51. ^ "- Vauxhall History". vauxhallhistory.org. Retrieved 10 March 2021.
  52. ^ "Stellantis Information on Euronext". Euronext. Retrieved 7 April 2021.
  53. ^ a b c "Fusion PSA-FCA: le conseil d'administration de Stellantis est constitué". BFM TV. Retrieved 18 July 2023.
  54. ^ a b c "PSA/FCA : qui sont les membres du nouveau conseil d'administration de Stellantis ?". La Tribune. Retrieved 18 July 2023.
  55. ^ "Véhicules FIAT disponibles sur le marché automobile algérien dès mars 2023" (in French). 23 January 2023. Retrieved 26 January 2023.
  56. ^ A360, Rédaction (29 November 2022). "Fiat Algérie va produire 60.000 voitures en 2023 : qu'en est-il du prix ?". www.algerie360.com (in French). Retrieved 26 January 2023.{{cite web}}: CS1 maint: numeric names: authors list (link)
  57. ^ Post, Janine van der. "Another local bakkie for SA: Stellantis to build Peugeot Landtrek locally, could Fiat Strada follow?". Life. Retrieved 10 December 2023.
  58. ^ a b c "Stellantis Media - FCA North American Manufacturing Operations". media.stellantisnorthamerica.com. Retrieved 24 February 2021.
  59. ^ a b Desde Francia: Stellantis anunció que sus fábricas en Argentina tendrán más piezas nacionales by Carlos Cristófalo, 12 May 2022 on Motor1.com
  60. ^ "Stellantis suspend sa production en Russie". BFM BUSINESS (in French). Retrieved 26 January 2023.
  61. ^ "Catching Up With: Jean-Marc Finot | dailysportscar.com". www.dailysportscar.com. Retrieved 27 January 2023.
  62. ^ "Join Stellantis Motorsport in 2023". boutique.citroenracing.com. Retrieved 27 January 2023.
  63. ^ "Citroën stars confirm WRC2 plans". WRC - World Rally Championship. Retrieved 6 February 2023.
  64. ^ "Thomas Chevaucher named Director of DS Performance | Stellantis". www.stellantis.com. Retrieved 27 January 2023.
  65. ^ "Maserati returns to motorsport with Gen3 Formula E entry". The Official Home of Formula E. Retrieved 27 January 2023.
  66. ^ "TotalEnergies and the Opel e-Rally Cup". TotalEnergies Competition. 28 June 2021. Retrieved 27 January 2023.
  67. ^ "The 208 Rally Cup joins the Stellantis Motorsport Rally Cup". www.media.stellantis.com. Retrieved 27 January 2023.
  68. ^ "LinkedIn Login, Sign in". LinkedIn.
  69. ^ "The 208 Rally Cup joins the Stellantis Motorsport Rally Cup". www.media.stellantis.com. Retrieved 6 February 2023.
  70. ^ "Legal notice". boutique.citroenracing.com. Retrieved 6 February 2023.
  71. ^ "PEUGEOT CITROËN OPEL RACING SHOP". Rallyes magazine (in French). Retrieved 6 February 2023.
  72. ^ "Join Stellantis Motorsport in 2023". boutique.citroenracing.com. Retrieved 6 February 2023.
  73. ^ "Peugeot Sport". Facebook. Retrieved 6 February 2023.

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