Fiat and Chrysler and Peugeot announced that they have settled to call the new corporate entity 'Stellantis' following a historic merger. In a joint statement, both the companies said that Stellantis is derived from the Latin verb "Stello" which stands for "to brighten the stars" and termed the announcement as a "major step" in coming together and 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."
"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 joint statement read.
Completion of the new 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 General Meetings and the satisfaction of antitrust and other regulatory requirements, as per the companies.
"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 statement read. According to the companies, the next step in the process is to unveil the logo with the name that will become the corporate brand identity after the 50:50 mega-merger. Furthermore, the name and the logos of the Stellantis Group's constituent brands will also remain unchanged.