Fiat Chrysler and PSA Group plan to call their combined company Stellantis upon completing a trans-Atlantic merger that would create one of the world’s largest auto companies, reported The Wall Street Journal.
The new name has its roots in the Latin word “stello,” meaning “to brighten with stars,” the companies stated Wednesday, July 15. It is cast in a font reminiscent of the futuristic style used byTesla in its corporate logo.
The change marks the first time that Fiat and Chrysler won’t appear in the parent company name, but they will live on as badges for individual brands. Likewise, brand names such as Jeep and Peugeot will continue.
“The stakes are high here,” said Marcus Collins, a marketing professor at the University of Michigan. “A new name presents a clean slate, but you only have so many chances to reinvent yourself.”
The two auto makers agreed to merge last year in a US$50 billion deal intended to help them leverage their global scale and advance new technologies for meeting tougher environmental regulations. As the cost of doing business continues to grow for global car companies, collaboration among traditional rivals has become a more attractive option.
Despite the fallout from the COVID-19 pandemic, both Fiat Chrysler and PSA have stated they are pressing ahead with the merger deal and expect it to close early next year.
Full Content: Wall Street Journal
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