It sounds more like a medication than an automaker.
The merged FCA and Groupe PSA have decided to call their corporation Stellantis. The company says that the name comes from the Latin verb "stello", which means “to brighten with stars." The interstellar name doesn't feel like a stellar choice, though, because it has no ties to either automaker's extensive history.
The companies offer a little explanation for the Stellantis name, but it doesn't really clarify a reason for choosing this specific moniker. "The name’s Latin origins pay tribute to the rich history of its founding companies while the evocation of astronomy captures the true spirit of optimism, energy, and renewal driving this industry-changing merger."
According to the Stellantis announcement, senior management from both companies were involved in coming up with the name. The French advertising and public relations firm Publicis Groupe also consulted on the decision. The next step is to create a logo for the business.
You're not going to see Stellantis on the grille of any vehicles, though, because it's purely the name for the automaker at a corporate level.
FCA and PSA (now Stellantis) finalized their merger plans in December 2019 and anticipated the entire undertaking to be complete in the first quarter of 2021. The company selected current PSA Chief Executive Officer Carlos Tavares as Stellantis' CEO first five years.
The new automaker is expected to be the world's fourth-largest automaker with annual deliveries of around 8.7 million vehicles. It consists of 13 marques, including notable names like Peugeot, Citroën, Dodge, Jeep, and Ram.
Stellantis intends to create two platforms that would underpin over two-thirds of its brands' models. Sharing technology so extensively would help save money through economies of scale.
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STELLANTIS: The Name of the New Group Resulting from the Merger of FCA and Groupe PSA
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This communication is for informational purposes only and is not intended to and does not constitute an offer or invitation to exchange or sell or solicitation of an offer to subscribe for or buy, or an invitation to exchange, purchase or subscribe for, any securities, any part of the business or assets described herein, or any other interests or the solicitation of any vote or approval in any jurisdiction in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. This communication should not be construed in any manner as a recommendation to any reader of this document.
This communication is not a prospectus, product disclosure statement or other offering document for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14th 2017.
An offer of securities in the United States pursuant to a business combination transaction will only be made, as may be required, through a prospectus which is part of an effective registration statement filed with the U.S. Securities and Exchange Commission (“SEC”). Shareholders of Peugeot S.A. (“PSA”) and Fiat Chrysler Automobiles N.V. (“FCA”) who are U.S. persons or are located in the United States are advised to read the registration statement when and if it is declared effective by the SEC because it will contain important information relating to the proposed transaction. You may obtain copies of all documents filed with the SEC regarding the proposed transaction, documents incorporated by reference, and FCA’s SEC filings at the SEC’s website at http://www.sec.gov. In addition, the effective registration statement will be made available for free to shareholders in the United States.
July 15, 2020 , Vélizy-Villacoublay, France and London - In a major step as they move towards the completion of their 50:50 merger as defined in the Combination Agreement announced on 18 December 2019, Peugeot S.A. ("Groupe PSA") and Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) today announce that the corporate name of the new group will be STELLANTIS.
STELLANTIS is rooted in the Latin verb “stello” meaning “to brighten with stars”. 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. STELLANTIS will combine the scale of a truly global business with an exceptional breadth and depth of talent, know-how and resource capable of providing the sustainable mobility solutions for the coming decades. The name’s Latin origins pay tribute to the rich history of its founding companies while the evocation of astronomy captures the true spirit of optimism, energy and renewal driving this industry-changing merger.
The process of identifying the new name began soon after the Combination Agreement was announced and the senior management of both companies have been closely involved throughout, supported by Publicis Group.
The STELLANTIS name will be used exclusively at the Group level, as a Corporate brand. The next step in the process will be the unveiling of a logo that with the name will become the corporate brand identity. The names and the logos of the STELLANTIS Group’s constituent brands will remain unchanged.
As previously stated, completion of the merger project is expected to occur in the first quarter of 2021, subject to customary closing conditions, including approval by both companies’ shareholders at their respective Extraordinary General Meetings and the satisfaction of antitrust and other regulatory requirements.