With annual production of around 8 million vehicles worldwide and revenues of more than 165 billion euros , Stellantis is expected to play a key role in the auto industry's jump into the new era of electrification.
At two separate extraordinary shareholder meetings, held virtually due to the pandemic, investors in each group backed the merger with approval rates above 99% of votes cast. Tavares will have to revive the carmaker's fortunes in China, rationalize a sprawling global empire, and address massive overcapacity, as well as focus like rivals on creating cleaner cars.
And FCA CEO Mike Manley – who will head Stellantis' key north American operations – said 40% of the expected synergies form the merger – projected at more than 5 billion euros, will come from convergence of platforms and powertrains and from optimizing R&D investments.