The EU approves the PSA/FCA merger, becoming the world's fourth largest automaker

IIA learned from foreign media that the European Commission’s anti-monopoly agency approved the application of PSA Group and Fiat Chrysler Automobiles (FCA) to merge into the Stellatis Group. After the merger, Stellattis Group will become the world's fourth largest car manufacturer.

The Directorate-General for Competition of the European Commission approved on December 21 local time that PSA Group and FCA merged to form the Stellattis Group for US$38 billion. The merger will be completed in the first quarter of next year. The European Commission also put forward conditions for the merger of PSA and FCA, requiring the company to open up competition in the field of vans.

The new group will own Peugeot, Citroen, DS, Opel, Vauxhall, Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Lancia, Maserati, RAM, SRT and other brands. The car brand names of both parties will remain unchanged. .

After the establishment of the Stellantis Group, it will vigorously develop electrification and launch 7 pure electric models in 2021. In 2022, the global model platform will provide 12 electric drive systems, covering all FCA models. It is estimated that by 2025, the group will achieve 100% electrification. In addition, the new group will target the Chinese market. After the merger, the group will also regard improving its performance in China as one of its main tasks.