After long journey, Fiat Chrysler, PSA to seal merger to become Stellantis

Topics Fiat | Fiat Chrysler | PSA Peugeot

MILAN (Reuters) - Fiat Chrysler and PSA will seal their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. It took over a year for the Italian-American and French automakers to finalise the $52 billion deal, during which the global economy was upended by the COVID-19 pandemic.

They first announced plans to merge in October 2019, to create a group with annual sales of around 8.1 million.

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