Following Fiat's takeover of Chrysler, the company has unveiled their new name as Fiat Chrysler Automobiles.
Following Fiat's takeover of Chrysler, the company has unveiled their new name and logo.
Set to be called Fiat Chrysler Automobiles (FCA), the company describes themselves as a "fully-integrated global automaker" which is a "true peer to the major global automotive groups, in both scale and capital market appeal."
While Fiat is based in Italy and Chrysler is based in the United States, the Board decided to establish Fiat Chrysler Automobiles in the Netherlands. Despite this, FCA’s common shares will be listed in New York and Milan.
Speaking of the latter, Fiat shareholders will receive one FCA common share for each Fiat share they hold and the FCA common shares will be listed on the New York Stock Exchange (NYSE) with an additional listing on the Mercato Telematico Azionario (MTA) in Milan.
The company has also adopted a new logo uses an acronym that "helps create a transition from the past, without severing the roots, while at the same time reflecting the global scope of the Group’s activities." The logo doesn't look terribly exciting but Fiat says "the F, derived from a square, symbolizes concreteness and solidity; the C, derived from a circle, representing wheels and movement, symbolizes harmony and continuity; and finally, the A, derived from a triangle, indicates energy and a perennial state of evolution."
According to Fiat Chairman John Elkann, “A new chapter of our story begins with the creation of Fiat Chrysler Automobiles. A journey that started over a decade ago, as Fiat sought to ensure its place in an increasingly complex marketplace, has brought together two organizations each with a great history in the automotive industry and different but complementary geographic strengths. FCA allows us to face the future with a renewed sense of purpose and vigor."
His sentiments were echoed by Fiat-Chrysler CEO Sergio Marchionne who said “Today is one of the most important days in my career at Fiat and Chrysler. Five years ago we began to cultivate a vision that went beyond industrial cooperation to include full cultural integration at all levels. We have worked tenaciously and single-mindedly to transform differences into strengths and break down barriers of nationalistic or cultural resistance."
Check out the press releases for additional information