"It is the beginning of an exciting journey", says CEO Carlos Tavares
After just over 120 years, the history of Fiat ends and the Stellantis era begins. The disappearance of the flag with the iconic ‘F’ of FCA from Mirafiori was perhaps enough for nostalgics. But today the reality born from the synthesis of the historic Turin group and the French Peugeot team officially takes off. And it was the third listing, the one on Wall Street following the landing in Milan and Paris, that sanctioned its beginning. It is not just a name change on the stock exchange. It is a change of perspective that passes through a 62-year-old Portuguese manager who – like Sergio Marchionne – presents himself to investors with the sweater, Carlos Tavares
The change of pace of the new manager can be felt from the very first words addressed to the press. Tavares explains that the goal “is not to be great, but to be excellent”. A plan to be put to good use through the 5 billion euros of synergies expected by 2024 which will generate 25 billion in value. “It is the beginning of an exciting journey”, says Tavares and then underlines that “this unique group will be able to be more competitive, will be able to seize the opportunities in the field of mobility.”
The synergies expected from the union between FCA and PSA will guarantee the sustainability of Stellantis over time. The birth of Stellantis is a protection, a protective “shield” for brands and employment. “There will be more models, more activities in the factories and the staff will be better protected everywhere and in Italy in particular”, underlines the CEO and then reiterates: “It will not be synergies that will make people lose jobs”.
For the moment, the 14 iconic brands of the group present in more than 130 countries remain guaranteed. The newborn Stellantis also wants to support the relaunch of Alfa Romeo and Maserati, with a “very high” heritage and a wealth for the new group. Finally, the ‘green’ turning point of the new group has been confirmed. By the end of 2021 Stellantis is ready to offer 39 electrified vehicles to the market. “One third of the cars sold in Europe will be electric”, assures Tavares.
President John Elkann turns to employees to celebrate the birth of the group. “Our past – he explains -, made up of challenges and prestigious results, is a fundamental part of the identity that now brings us all together under the name of Stellantis. And it is on this basis that from today we begin to build a new and exciting future together ”. The Stellantis stock makes its debut with a rise of over 12%.
© Copyright LaPresse