DETROIT – The merger between Fiat Chrysler Automobiles (FCA) and Groupe PSA (PSA Peugeot) has borne a new name: Stellantis.
Actually, it’s officially STELL/\NTIS, a name “rooted in the Latin verb ‘stello’ meaning ‘to brighten with stars,‘” according to the automakers’ joint news release on Wednesday.
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“It draws inspiration from this 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,” reads the release.
FCA and PSA announced in December they signed a binding merger deal creating the world’s fourth-largest auto company with the scale to confront the challenges of stricter emissions regulations and the transition to new driving technologies.
The companies said the new group will be led by PSA’s cost-cutting CEO Carlo Tavares, with Fiat Chrysler’s chairman John Elkann as chairman of the merged company. Fiat Chrysler CEO Mike Manley will stay on, but it was not announced in what capacity.
The deal, which was unveiled in October, was announced as a 50-50 merger, but PSA has one extra seat at the board and Tavares at the helm, giving the French carmaker the upper hand in daily management.