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Stellantis
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. 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] EtymologyThe 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] HistoryIn 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 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, of which Stellantis holds 51% of the capital.[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] On 1 December 2024, the board announced that it had accepted Carlos Tavares’ resignation as Chief Executive Officer; a new Interim Executive Committee, chaired by John Elkann, was established to identify a new CEO.[52][better source needed] BrandsThe active brand portfolio of Stellantis as of 2023[update] is shown below.[53] 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.
OwnershipFollowing the 50% FCA and 50% PSA merger, the owners were:[56]
LeadershipCEO's resignationStellantis announced that the Company’s Board of Directors, under the Chairmanship of John Elkann, accepted Carlos Tavares’ resignation on December 1st, 2024 from his role as Chief Executive Officer with immediate effect.[57] Senior management
Board of directorsThe 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 plantsAfrica
Asia
EuropeNorth AmericaSouth America
Oceania
Former assembly plants
MotorsportStellantis Motorsport is a department led by director and senior vice president Jean-Marc Finot.[60] It is responsible for the motorsport activities of the corporation's brands, divisions, and subsidiaries:
The Stellantis Motorsport Racing Shop combines Citroën Racing, Peugeot Sport and Opel Motorsports' customer racing distribution and retail sales operations.[66] It is also known as Peugeot Citroën Racing Shop[67] and Peugeot Citroën Opel Racing Shop.[68] The Stellantis Motorsport Cup is a rally competition run in Belgium, France and Spain using Peugeot 208 and Opel Corsa Rally4 cars.[61] The cup originated in Belgium and Luxembourg as PSA Motorsport Cup Belux.[69] TechnologyElectrification
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] SustainabilityFurthering its commitment to sustainability beyond electrification, Stellantis introduced SUSTAINera. This initiative embodies the company's integrated ecosystem of circular economy activities. SUSTAINera focuses on extending the auto parts lifespan and reducing the use of natural resources by implementing the "4R" strategy: Reman, Repair, Reuse, and Recycle. This approach aims to decrease waste and pollution, contributing to Stellantis' objective of achieving carbon net zero by 2038. [71] Following this goal, in 2020, Stellantis (then PSA Group) expanded its circular economy initiatives with the acquisition of B-Parts, a leading platform specializing in the sale of used auto parts. By integrating platforms like B-Parts into its aftermarket services, Stellantis aims to enhance resource efficiency and provide cost-effective and environmentally friendly solutions.[72] See alsoReferences
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