Stellantis N.V. is a multinational automotive manufacturing company formed from the merger in 2021 of the Italian–American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group.[10][11][12] The company headquarters are located in Hoofddorp, Netherlands.
 | |
.jpg) The Chrysler World Headquarters and Technology Center in Auburn Hills, Michigan, headquarters of Stellantis North America | |
| Company type | Public |
|---|---|
| ISIN | NL00150001Q9 |
| Industry | |
| Predecessors | |
| Founded | 17 January 2021 |
| Headquarters | , |
Area served | Worldwide |
Key people |
|
Production output |  6.168 million vehicles (2023) |
| Brands | |
| Revenue | €189.5 billion (2023) |
| €22.4 billion (2023) | |
| €18.6 billion (2023) | |
| Total assets | €202.1 billion (2023) |
| Total equity | €82.1 billion (2023) |
| Owners | |
Number of employees | 258,275 (2023) |
| Subsidiaries |
|
| Website | Official website  |
| Footnotes / references [2][3][4][5][6][7][8][9] | |
As of 2023, Stellantis was the world's fourth-largest automaker by sales, behind Toyota, Volkswagen Group, and Hyundai Motor Group.[13] In 2023, the company was ranked 61st in the Forbes Global 2000.[14] The company's stock is listed on the Borsa Italiana, Euronext Paris and the New York Stock Exchange.[15]
Stellantis designs, manufactures, and sells automobiles bearing its 14 brands: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram Trucks, 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.[16]
Etymology
editThe name comes from the Latin verb stello,[12] 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'.[17][18][19] N.V. stands for naamloze vennootschap, meaning 'nameless partnership' in Dutch, referring to a type of public company.
History
editIn early 2019, Fiat Chrysler Automobiles (FCA) sought a merger with French automaker Renault and reached a provisional agreement with the company.[20] 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".[21] Nissan also had various concerns about the impact of the proposal on its alliance with Renault.[21] 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.[12]
On 21 December 2020, the European Commission approved the merger, while imposing minimal remedies to ensure competition in the sector.[22] The merger was approved on 4 January 2021 by the shareholders of both FCA and PSA. The deal was completed on 16 January 2021, and the merged company was renamed to Stellantis N.V. the following day. 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".[23][24][25]
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.[26] 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.[26] Per the filing, the Stellantis board had 11 directors, six from PSA and five from Fiat Chrysler.[27]
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%.[27] 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.[28]
The name Stellantis is exclusively used to identify the corporate entity, while group brand names and logos remain unchanged.[12] 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.[29][30][31][32] The group planned to have 29 electrified vehicle models available by the end of 2021.[33] Stellantis planned to develop four EV platforms by the end of the 2020s.[34][35] Overall, the company announced more than €30bn would be invested by the end of 2021.[36]
A network of charging stations started in November 2021.[37] 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.[38] In June 2022, the company paused production at two French plants due to shortages in semiconductors.[39]
In April 2022, Stellantis halted operations in Russia due to logistical difficulties and the sanctions imposed on the country following the Russian invasion of Ukraine in 2022. On 15 February 2024, Russian operators, collaborating with Dongfeng Motor Group, initiated the production of new Citroën models at a majority owned Stellantis plant in Kaluga, Russia, despite Stellantis halting its Russian operations in April 2022. Stellantis claimed that it has "lost control of its entities in Russia."[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] The joint venture will be registered in the Netherlands, and it also includes the possibility of producing the brand's cars in Europe if duties on Chinese cars are raised. The JV's target is 500,000 sales outside China by 2030.[49]
The company announced a 3 billion euro ($3.2 billion) share buyback in 2024.[50]
In March 2024, it was announced Stellantis had acquired a stake in the Grenoble-headquartered optical radar start-up, SteerLight. The company manufactures sensors for autonomous driving.[51]
Brands
editThe active brand portfolio of Stellantis as of 2023[update] is shown below.[52] 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[53] |
| Citroën |  France |
1919 | Thierry Koskas |
| Dodge | United States |
1914 | Matt McAlear |
| DS Automobiles | France |
2014 | Olivier François |
| 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 Trucks | United States |
2010 | Christine Feuell |
| Vauxhall |  United Kingdom |
1857[54] | Florian Huettl |
Ownership
editFollowing the 50% FCA and 50% PSA merger, the owners were:[55]
Leadership
editSenior management
edit- Chairman: John Elkann (since January 2021)[56][57]
- Chief executive: Carlos Tavares (since January 2021)[56][57]
- Vice chairman: Robert Peugeot(since January 2021)[56][57]
Board of directors
editThe 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.
Current assembly plants
editAfrica
edit| Country | Name | Location | Date opened | Current products |
|---|---|---|---|---|
| Algeria | Oran Plant | Tafraoui | December 2023 | |
| Morocco | Kenitra Plant | Ameur Seflia | June 2019 | |
| Namibia | Walvis Bay Plant | Walvis Bay | 2018 | |
| Nigeria | Kaduna Plant | Kaduna | 2016 |
Asia
edit| Country | Name | Location | Date opened | Current products |
|---|---|---|---|---|
| China (Dongfeng JV) |
Wuhan Plant | Wuhan | 1992 | |
| Chengdu Plant | Chengdu | 2016 | ||
| India | Hosur Plant (AVTEC JV) |
Hosur | 2017 |
|
| Ranjangaon Plant (Tata JV) |
Ranjangaon | January 1997 | ||
| Thiruvallur Plant | Thiruvallur | 2020 | ||
| Indonesia | Purwakarta Plant (Indomobil JV) |
Purwakarta | 2024 | |
| Malaysia | Gurun Plant | Gurun | 2002 |
Europe
editNorth America
editSouth America
edit| Country | Name | Location | Date opened | Current products |
|---|---|---|---|---|
| Argentina | El Palomar Plant | El Palomar | 1960 | |
| Ferreyra Plant | Ferreyra | 1958 | ||
| Brazil | Betim Plant | Betim | 1976 | |
| Goiana Plant | Goiana | 2015 | ||
| Porto Real Plant | Porto Real | 2001 |
Oceania
edit| Country | Name | Location | Date opened | Current products | Notes |
|---|---|---|---|---|---|
| Australia | Clayton South Plant | Clayton South | 2015 |
|
| Country | Name | Location | Date opened | Current products | Notes |
|---|---|---|---|---|---|
| Australia | Distribution | Port Melbourne | 2021 |
|
Former assembly plants
edit| Country | Name | Location | Date opened | Date closed | Products |
|---|---|---|---|---|---|
| Russia | Kaluga Plant | Kaluga | 2013 | 2022 |
Motorsport
editStellantis Motorsport is a department led by director and senior vice president Jean-Marc Finot.[58] It is responsible for the motorsport activities of the corporation's brands, divisions, and subsidiaries:
- Citroën Racing[59]
- Commercial operation focusing on customer racing with the Citroën C3 Rally2, although known to be supporting entries in WRC2[60]
- DS Performance[61]
- Entrant in Formula E World Championship
- Maserati[62]
- Entrant in Formula E World Championship
- Opel Motorsport[63]
- Manufacturer of the electric rally car Opel Corsa-e Rally and organiser of its Opel e-Rally Cup
- Commercial operation focusing on customer racing with the Opel Corsa Rally4
- Peugeot Sport[64]
- Entrant of the FIA World Endurance Championship
- Commercial operation focusing on customer racing with the Peugeot 208 Rally4
The Stellantis Motorsport Racing Shop combines Citroën Racing, Peugeot Sport and Opel Motorsports' customer racing distribution and retail sales operations.[65] It is also known as Peugeot Citroën Racing Shop[66] and Peugeot Citroën Opel Racing Shop.[67]
The Stellantis Motorsport Cup is a rally competition run in Belgium, France and Spain using Peugeot 208 and Opel Corsa Rally4 cars.[68] The cup originated in Belgium and Luxembourg as PSA Motorsport Cup Belux.[69]
Technology
editElectrification
editThis section reads like a press release or a news article and may be largely based on routine coverage. (August 2024) |
Stellantis is implementing its Dare Forward 2030 plan, focusing on electrification. The company aims to invest over €50 billion in this initiative over the next decade. This includes achieving 100% battery electric vehicle (BEV) sales for passenger cars in Europe and 50% BEV sales for passenger cars and light-duty trucks in the United States by 2030. By then, Stellantis plans to have more than 75 BEV models available, targeting 5 million annual BEV sales globally. The strategy involves developing a variety of vehicle types with different battery technologies to maintain affordability and efficiency. Stellantis is using a mix of nickel- and cobalt-free, and nickel-based battery options, recently adding a lithium iron phosphate (LFP) battery pack for cheaper BEV variants. The plan also includes vehicles with front-, rear-, and all-wheel-drive systems, and aims for driving ranges between 500 and 800 kilometers (300–500 miles).[70]
See also
editReferences
edit- ^ "Unofficial English translation articles of association Stellantis (English)" (PDF). Stellantis.
- ^ "Full Year 2022 Results" (PDF). Stellantis N.V. 22 February 2023. Retrieved 22 February 2023.
- ^ "Annual Report and Form 20-F for the year ended December 31, 2021" (PDF). Stellantis N.V. 25 February 2022. Retrieved 17 March 2022.
- ^ "Fiat-Chrysler & Peugeot Agree on Merger to Create 4th-Largest Carmaker". NPR. 19 October 2019. Retrieved 17 July 2020.
- ^ Beresford, Colin (19 January 2021). "It's Official: Fiat Chrysler and PSA Group Are Now Stellantis". Car and Driver.
- ^ "Top jobs for Stellantis: electrification, restructure Europe, compete in China". Detroit News.
- ^ "Stellantis Surges in Trading Debut After Fiat-PSA Merger". Bloomberg. 18 January 2021. Retrieved 19 January 2021.
- ^ "STLA - Stellantis NV Shareholders - CNNMoney.com". money.cnn.com.
- ^ "Annual Report for the year ended December 31, 2023" (PDF). Stellantis. Retrieved 28 April 2024.
- ^ "Fiat Chrysler to Be Renamed Stellantis After Merger With PSA". Wall Street Journal. 15 July 2020.
- ^ Stellantis weighs closing production line at Italy's Melfi plant - union, Reuters, 25 March 2021
- ^ 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."
- ^ "Top 15 Automakers in the World | Car Sales Rank Worldwide". F&I Tools.
- ^ "The Global 2000 2023". Forbes. Archived from the original on 29 January 2024. Retrieved 7 February 2024.
- ^ 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.
- ^ "Overview". Stellantis. Retrieved 19 January 2021.
- ^ "stellans, stellantis M - Latin is Simple Online Dictionary". www.latin-is-simple.com. Retrieved 4 January 2021.
- ^ "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"
- ^ "stello, stellas, stellare A, -, stellatum -". Latin is Simple Online Dictionary. Retrieved 4 January 2021.
- ^ "Fiat Chrysler proposes 50-50 merger with Renault". TechCrunch. Archived from the original on 17 March 2021. Retrieved 27 May 2019.
- ^ 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.
- ^ "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.
- ^ "Fiat Chrysler and Peugeot shareholders vote to merge, creating world's fourth-largest car maker". NBC News. 4 January 2021. Retrieved 4 January 2021.
- ^ Noble, Breana. "Stellantis merger to close on Jan. 16 after PSA, FCA shareholders approve". The Detroit News. Retrieved 5 January 2021.
- ^ "The merger of FCA and Groupe PSA has been completed" (PDF). FCA. Retrieved 16 January 2021.
- ^ 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.
- ^ a b Strong, Michael (24 November 2020). "Fiat Chrysler and PSA Not Exactly a "Merger of Equals"". The Detroit bureau.
- ^ Stellantis shareholder Dongfeng sells down stake for 600 mln euros, Reuters, 8 September 2021
- ^ Taylor, Michael (17 May 2021). "Stellantis Gives Its Alfa Romeo, Lancia And DS Brands One Last Chance". Forbes.
- ^ "Stellantis to give each of its 14 car brands 10 years of funding - CEO". Reuters. 14 May 2021.
- ^ Padeanu, Adrian (14 May 2021). "Stellantis will invest in Alfa Romeo and Lancia for the next 10 years". Motor1.com.
- ^ Noble, Breana (13 May 2021). "Stellantis CEO says brands have 10 years to prove their worth". Detroit News.
- ^ "Stellantis: Building a world leader in sustainable mobility". Stellantis. Retrieved 19 January 2021.
- ^ Malan, Andrea (18 April 2021). "How Stellantis will speed up its EV transition". Auto News.
- ^ Carson, Sean (20 April 2021). "Stellantis maps out future EV platforms with up to 497 miles of range". Auto Express.
- ^ "Vauxhall owner Stellantis to invest €30bn in electric vehicles". BBC News. 8 July 2021. Retrieved 9 July 2021.
- ^ Hampel, Carrie (16 November 2021). "Stellantis reveals details of EU charging network". Electrive. Archived from the original on 16 November 2021.
- ^ "Automakers Announce Agreements to Improve Supply of Semiconductor Chips". PYMNTS.com. 13 December 2021. Retrieved 14 December 2021.
- ^ "Stellantis will halt production at 2 French plants". Automotive News Europe. 23 June 2022. Retrieved 25 June 2022.
- ^ Stolyarov, Gleb (15 February 2024). "Exclusive: Russians use Chinese partner to produce Citroën cars at idled Stellantis plant". Reuters. Retrieved 15 February 2024.
- ^ "Stellantis pleads guilty, will pay $300 million over allegations of emissions fraud". The Verge. 25 May 2022. Retrieved 26 May 2022.
- ^ "Share Now: BMW und Mercedes verkaufen Carsharing an Stellantis". Handelsblatt. 3 May 2022. Archived from the original on 3 May 2022. Retrieved 3 May 2022.
- ^ "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.
- ^ "Free2move Becomes a World Leader in Mobility with Acquisition of Share Now". Stellantis. 18 July 2022. Retrieved 5 November 2022.
- ^ Hammerschmidt, Christoph (17 November 2022). "Stellantis acquires AI startup aiMotive". EE News Europe. Retrieved 17 November 2022.
- ^ "Stellantis Will Create New Software Development Hub in Poland". MarketWatch. Retrieved 20 February 2023.
- ^ "Stellantis to Become a Strategic Shareholder of Leapmotor with €1.5 Billion Investment and Bolster Leapmotor's Global Electric Vehicle Business". Stellantis. Retrieved 30 October 2023.
- ^ "Stellantis' Chinese gamble". EV inFocus. 30 October 2023. Retrieved 30 October 2023.
- ^ "With Leapmotor, Stellantis adds '15th brand' to sell low-cost EVs". Automotive News Europe. Archived from the original on 3 December 2023. Retrieved 26 February 2024.
- ^ "A traditional automaker just turned a profit on EVs". CNN Business. Archived from the original on 15 February 2024. Retrieved 26 February 2024.
- ^ Robson, Kurt (20 March 2024). "Stellantis acquires stake in optical radar startup SteerLight". Verdict. Retrieved 20 March 2024.
- ^ "Appointment of the Top Executive Team to steer Stellantis". Stellantis. Retrieved 19 January 2021.
- ^ "Christine Feuell will join Stellantis as Chrysler Brand CEO". Stellantis (Press release). 7 September 2021.
- ^ "Vauxhall History". Retrieved 10 March 2021.
- ^ "Stellantis N.V. Company profile". Euronext. Retrieved 31 May 2024.
- ^ a b c "Fusion PSA-FCA: le conseil d'administration de Stellantis est constitué". BFM TV. Retrieved 18 July 2023.
- ^ a b c "PSA/FCA : qui sont les membres du nouveau conseil d'administration de Stellantis ?". La Tribune. 29 September 2020. Retrieved 18 July 2023.
- ^ "Catching Up With: Jean-Marc Finot". dailysportscar.com. Retrieved 27 January 2023.
- ^ "Join Stellantis Motorsport in 2023". Citroën Racing. Retrieved 27 January 2023.
- ^ "Citroën stars confirm WRC2 plans". WRC – World Rally Championship. Retrieved 6 February 2023.
- ^ "Thomas Chevaucher named Director of DS Performance | Stellantis". Stellantis. Retrieved 27 January 2023.
- ^ "Maserati returns to motorsport with Gen3 Formula E entry". The Official Home of Formula E. 11 January 2022. Retrieved 27 January 2023.
- ^ "TotalEnergies and the Opel e-Rally Cup". TotalEnergies Competition. 28 June 2021. Retrieved 27 January 2023.
- ^ "The 208 Rally Cup joins the Stellantis Motorsport Rally Cup". Stellantis. Retrieved 27 January 2023.
- ^ "The 208 Rally Cup joins the Stellantis Motorsport Rally Cup". Stellantis. Retrieved 6 February 2023.
- ^ "Legal notice". Citroën Racing (in French). Retrieved 6 February 2023.
- ^ Dart, Frédéric. "Visite: Peugeot Citroën Opel Racing Shop". Rallyes magazine (in French). Retrieved 6 February 2023.
- ^ "Join Stellantis Motorsport in 2023". Citroën Racing. Retrieved 6 February 2023.
- ^ "Peugeot Sport". Facebook. Retrieved 6 February 2023.
- ^ "Electrification". Stellantis. Retrieved 5 August 2024.
External links
edit
Media related to Stellantis at Wikimedia Commons
- Official website
- STELLANTIS: The name of the new group resulting from the merger of FCA and Groupe PSA, joint press release of FCA and PSA
