Shares of Stellantis took off on the first day of trading

Shares of Stellantis, a company formed by the merger of PSA Peugeot Citroen and Fiat Chrysler, soared eight percent on the first day of trading on the Milan Stock Exchange.

The market value of the company is now at the level of 42 billion euros.

The FCA and PSA have estimated that Stellantis could cut annual costs by more than 5 billion euros ($ 6.1 billion) without shutting down the plant, and investors are also interested in Tavares’ action plan and other details, including the transformation of the electric car range. era, reviving the group’s backward wealth in China, rationalizing its vast global empire, and addressing large overcapacities.

The automotive concern Stellantis will include all 14 car brands FCA and PSA under one roof.

Stellantis is expected to have an annual production of eight million vehicles and revenues of as much as 165 billion euros, which will make it the fourth place among car giants.

Source: Seebiz.eu


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