This article has multiple issues. Please help improve it or discuss these issues on the talk page . (Learn how and when to remove these messages)
|
Company type | Public |
---|---|
Industry | |
Predecessors | |
Founded | 12 October 2014 |
Defunct | 16 January 2021 |
Fate | Merged with the PSA Group to form a new company called Stellantis |
Successor | Stellantis |
Headquarters | Amsterdam, Netherlands (Legal office) London, United Kingdom (Fiscal office) |
Area served | Worldwide |
Key people | John Elkann (chairman) Mike Manley (CEO) [1] |
Revenue | €108 billion (2019) [2] |
€4 billion (2019) [2] | |
€6.6 billion (2019) [2] | |
Total assets | €96.87 billion (2018) [2] |
Total equity | €24.90 billion (2018) [2] |
Owners |
|
Number of employees | 198,545 (2018) [2] |
Subsidiaries | Companies [4]
|
Website | fcagroup.com at the Wayback Machine (archived 16 March 2020) |
Fiat Chrysler Automobiles N.V. (FCA), now part of Stellantis, was an Italian-American multinational corporation primarily known as a manufacturer of automobiles, commercial vehicles, auto parts and production systems. The corporation was established by January 2012, when Fiat acquired a 58.5% stake of the Chrysler Group (which in 1998 to 2007 was part of DaimlerChrysler) and thus became the at the time 7th largest automaker (behind Toyota, General Motors, Volkswagen, Hyundai, Ford and Nissan). Its corporate headquarters were domiciled in Amsterdam and its financial headquarters were in London. The holding company was listed on the New York Stock Exchange and Milan's Borsa Italiana. [5] Exor, an Italian investment group controlled by the Agnelli family, owned 29% of FCA and controlled 44% through a loyalty voting mechanism, [6] the largest block of shares.
FCA's mass-market brands operated through two main subsidiaries: FCA Italy (previously Fiat) with headquarters in Turin, and FCA US (previously Chrysler) in Auburn Hills, Michigan. The company's portfolio included brands Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Maserati, and Ram Trucks. Ferrari was spun off in 2016. [7] FCA operated in four global markets (NAFTA, LATAM, APAC, EMEA). [8]
Starting in late 2019, FCA merged with the PSA Group (owner of the Peugeot and Citroën brands among others) on a 50-50 all-stock basis [9] in a $50 billion merger. [10] [11] In 2020, the company announced its new name, Stellantis. [12] In January 2021, the merger was complete with FCA resulting as the surviving entity and changed its name to Stellantis.
FCA also owned industrial subsidiaries Comau, Mopar, Teksid and VM Motori. [13]
The executive management of the company was split between Michigan and Italy. [14] The other operating activities of the new group remained unchanged, with manufacturing, design, and engineering facilities remaining in Turin, Michigan, and other locations worldwide.
Executive members of the FCA Board of Directors as of March 2019 were John Elkann (Chairman) and Mike Manley (Chief Executive Officer), with non-executive directors Ronald L. Thompson, John Abbott, Andrea Agnelli, Tiberto Brandolini d'Adda, Glenn Earle, Valerie A. Mars, Ruth J. Simmons, Michelangelo A. Volpi, Patience Wheatcroft, and Ermenegildo Zegna, CEO of Ermenegildo Zegna. [15]
FCA carried out its mass-market automotive operations through two main subsidiaries: FCA Italy (previously Fiat Group Automobiles) [16] and FCA US (previously Chrysler Group). [17] The company announced both name changes in December 2014.
FCA Italy included the Italy-based brands Abarth, Alfa Romeo, Fiat, Fiat Professional, Lancia, and the engine manufacturing subsidiary VM Motori. [18]
FCA US included the US-based brands Chrysler, Dodge, Jeep, and Ram, plus the Mopar service and parts organization.
Other companies included firms working on production automation (Comau) and a metal foundry (Teksid, 84.8% share). Other joint ventures and subsidiaries are undertaken via the FCA Italy and FCA US companies.
In early 2019, FCA sold auto-parts maker Magneti Marelli for €6.2 billion to Calsonic Kansei, a Japan-based company owned by American buyout firm KKR.
The integration between Fiat and Chrysler dates back to 2009, after Chrysler filed for Chapter 11 bankruptcy reorganization on 30 April 2009. On 10 June 2009, Chrysler emerged from the bankruptcy proceedings with the United Auto Workers pension fund, Fiat, and the US and Canadian governments as principal owners. Fiat's initial purchase was a 20% stake; by January 2012, it grew to 58.5%. On 21 January 2014, Fiat completed the acquisition of the remaining 41.5% from the United Auto Workers, making Chrysler Group a wholly owned subsidiary. The total cost of acquisition was US$4.9 billion with an additional US$5.5 billion in pension liability. [19]
Fiat S.p.A. and Chrysler Group LLC merged into FCA on 12 October 2014 following approvals of the board on 15 June 2014 and shareholders on 1 August 2014. [20] On 13 October 2014, Fiat Chrysler began trading on the NYSE under the ticker symbol "FCAU".
On 6 May 2014, Fiat Chrysler Automobiles announced its 5-year business plan. [21] The company expected that sales would increase to 7 million units, revenues to €132 billion, net income to €5 billion, and industrial debt would peak at €11 billion in 2015, and then reduce to €0.5-1 billion by end of 2018. [22] The Group updated its business plan targets in January 2016 at the time it announced FY 2015.
Much of the global growth was focused around Jeep due to its high visibility globally as well as the growing worldwide SUV market. Chrysler would be re-positioned as the company's mainstream North American brand to compete with Ford, Chevrolet, Toyota, and Volkswagen, while Dodge would focus on performance-based vehicles. Alfa Romeo would become the company's premium marque to compete with BMW, Lexus, and Audi, while Maserati would be the company's ultra-luxury brand to compete with Mercedes-Benz, Bentley, Jaguar, Aston Martin, and Rolls-Royce. Fiat (which would remain the company's mainstream brand outside of North America) and Ram Trucks would remain largely unchanged while SRT was merged back into Dodge. [23] Conspicuously absent in the announcement was Lancia, which was later confirmed to be withdrawing from all markets outside Italy. [24]
In 2014, Alfa Romeo launched the 4C and 4C Spider in North America. In 2015, the company announced the Giulia and in 2016 it added an SUV, Stelvio. It dropped the 4C from the lineup in 2019. FCA announced a mid-cycle refresh for both the Giulia and Stelvio for production year 2021. [25]
In 2014, Chrysler released a refreshed 300/300C. In 2016, the brand launched the Pacifica as the successor to the Town & Country.
The first announcement was that the SRT brand was to rejoin Dodge. In 2015, a refreshed Charger and Challenger (with equivalent SRT versions) launched. The company also introduced SRT Hellcat versions of the Charger and Challenger. [26] [27] FCA also announced that 2014 would be the last model year for the Dodge Avenger. In 2018 with a refreshed Dodge Durango launched along with (an SRT version). In 2018, it launched a Challenger (and SRT version) and Charger (and SRT version) models.
In April 2017, Dodge introduced the 2018 Dodge Demon. It had a 6.2L V8 HEMI mated to a 2.7L supercharger, which produced 840 horsepower and 770 lb-ft of torque at the crank—and made the Dodge Demon the world's quickest production vehicle at the time. The Demon's excessive torque caused the front axle to lift off of the ground during launch. It was also equipped with many other industry-first features including a Transbrake, launch control systems, 5-point harness occupant restraints, and an HVAC system that produces additional horsepower by further cooling intake air. [21]
In 2015, Fiat launched the new Fiat 500X (produced in Melfi, Italy) and the Fiat Egea (produced in Turkey by JV partner Tofas and sold in Europe under the Fiat Tipo nameplate and Mexico as the Dodge Neon). [21]
Lancia is a historic brand of Italian luxury and performance cars. With the discontinuation of the Lancia-badged Chrysler 300 and Voyager in the European market in 2015, the Ypsilon is the only model currently in production and is marketed solely in Italy.
In 2014, the Maserati GranTurismo and GranCabrio were believed to be the end of the nameplate. In 2016, the company launched the new Maserati Levante SUV. In 2018, it added a new GranTurismo with a 560-horsepower V8 and rear-wheel drive. Between 2014 and 2018, the top-of-the-line Maserati Quattroporte GTS received a 560-horsepower V8 with an all-wheel drive to replace the 523-horsepower V8 with rear-wheel drive in the GTS model. The top-of-the-line Ghiblis and Levantes received the same setup as the Quattroporte. In 2020, the company added the Maserati Alfieri. The car was scheduled for release in 2016 but was postponed to allow the Levante in 2016. In 2021, a convertible variant of the Alfieri is expected. The top-of-the-line Alfieri will receive a 520-horsepower V6 with all-wheel drive. [21]
In 2014, FCA launched the Jeep Renegade. After a long absence Jeep returned to Malaysia, where DRB-Hicom distributes the brand's vehicles. [28] In 2015, FCA refreshed the Jeep Grand Cherokee with celebrities Fan Bingbing, Tina Fey, Sandra Bullock, Julia Roberts, and Cate Blanchett promoted as brand ambassadors. Jeep marked its 75th anniversary in 2016. The Jeep Compass and Jeep Patriot appeared in their last model year while a refreshed Jeep Cherokee was released. In 2017, FCA refreshed the Jeep Renegade followed by the updated Jeep Wrangler and Grand Cherokee in 2018. In 2021, FCA launched a luxury Grand Wagoneer to compete with the likes of Mercedes-Benz G-Class and Range Rover, Cadillac Escalade, and Lincoln Navigator. [29] Jeep also launched the Wagoneer to compete with the likes of the Ford Expedition, Chevrolet Suburban, and GMC Yukon.
In 2014, Ram launched the ProMaster van and the smaller ProMaster City, derived from the Fiat Ducato and Doblò respectively. [21] In 2017, the division launched a new Ram 1500 and a refreshed commercial light-duty truck. It followed in 2018 with a new Ram HD, commercial heavy-duty truck, and Ram chassis cab. [21]
Fiat Chrysler Automobiles NV chief executive Sergio Marchionne and Dennis Williams, President of the United Auto Workers (UAW), entered into contract negotiations on 14 July 2015. As negotiations between the UAW and US automakers began, Marchionne leaned in to embrace Williams in a hug seen "round the world," shocking some union members. [30] When Marchionne made the announcement on 8 January 2017 of plans to add 2,000 jobs and invest $1 billion in plants by 2020, Marchionne credited the decision to the negotiations with Williams that began in 2015. [31] [32]
On 13 January 2017, the company came under investigation by the US Justice Department due to allegedly failing to disclose software that violated emissions standards and allowed vehicles to exceed pollution limits. [33] On 23 May 2017, the Justice Department filed a civil lawsuit alleging that FCA "used a 'defeat device' to circumvent emission controls" in more than 100,000 vehicles between 2014 and 2016. [34]
On 29 October 2014, the group announced the intention to separate Ferrari S.p.A. from FCA. The transaction completed on 3 January 2016. [35] In January 2016, Ferrari became a separate investment of Exor, siding with FCA and CNH, after FCA listed 10% of the company on the NYSE in October 2015 and distributed its remaining 80% stake in Ferrari to FCA shareholders. Ferrari now trades on the NYSE under the ticker symbol "RACE". [7]
FCA also operated in print media and advertising through its Italiana Editrice subsidiary (publisher of the Italian La Stampa and Il Secolo XIX newspapers) and interest in RCS Media Group.
In March 2017, FCA was a stakeholder in the creation of Italy's largest media group GEDI Gruppo Editoriale, created by the merger of Gruppo Editoriale L'Espresso publishing L'espresso and La Repubblica with Italiana Editrice (ITEDI), of which FCA held 77% of the shares and which publishes the Torino daily La Stampa and Il Secolo XIX . Subsequently, FCA divested from publishing by distributing its shares to its own shareholders, again mainly Exor, so to concentrate on the automobile business. Exor sold its shares in GEDI immediately after receiving them.
On 21 July 2018, FCA suddenly replaced chief executive Marchionne in all of his positions at FCA, Ferrari, SGS, and CNH following emergency meetings of each respective company's board of directors. [36] [37] [38] Marchionne last appeared in public on 26 June where he appeared quite lethargic and fatigued. FCA stated on 5 July that he had taken medical leave to undergo surgery to his right shoulder and on the day of his replacement stated that he would not be able to return to work due to post-surgical complications. [39] It was later reported that his health had deteriorated "suddenly and sharply" [40] [41] and that Marchionne had lapsed into a coma. [42] [43] [44] [45] [46] Sergio Marchionne died on 25 July 2018, aged 66. [47] [48]
In July 2018, Fiat Chrysler Automobiles NV's European chief Alfredo Altavilla resigned after being passed over to replace Marchionne. [49]
In January 2019, Fiat Chrysler agreed to pay $800 million to settle lawsuits related to diesel emissions [50] after the company was found to have installed software to produce false results on diesel emissions tests. In July 2020, authorities from Germany, Italy and Switzerland raided the offices of Fiat-Chrysler Automobiles as part of the investigation over the use of defeat devices in emissions testing. [51] Additionally Fiat-Chrysler is facing a £5 billion class-action lawsuit in the United Kingdom in relation to allegations of diesel emissions manipulation in select Alfa Romeo, Fiat, Iveco, and Jeep models. [52]
In February 2019, Fiat Chrysler announced plans to invest $4.5 billion in manufacturing in Michigan. [53] The plant is estimated to create nearly 6,500 jobs. Plans include $1.6 billion to build a Jeep factory in Detroit. [54]
In May 2019, Fiat Chrysler proposed merging its business with Renault [55] but it was later withdrawn. [56]
In March 2020, the Detroit United Auto Workers union announced that after discussion with the leaders of General Motors, Ford, and Fiat Chrysler Automobiles, the carmakers would partially shut down factories on a "rotating" basis to mitigate the COVID-19 pandemic. [57] In April 2020, the company released several advertisements designed to discourage people from using their products during the pandemic. [58]
On 31 October 2019, FCA announced its intent to merge with the French automaker PSA Group. The merger would be on a 50-50 all-stock basis. [9] On 18 December 2019, FCA and PSA announced that they had agreed to the binding terms for the $50 billion merger. [10] [11] On 15 July 2020, both companies announced that the corporate name of the new group would be Stellantis. [59] The new group will be incorporated in the Netherlands with Carlos Tavares as CEO. [60] On 4 January 2021, both shareholders of FCA and PSA approved the merger and it ceased operation on 16 January 2021. [61] [62] [63]
The FCA logo, which comprises stylised blue letters resembling FCA, was created by the Italian branding company Robilant Associati, [64] [65] ending the use of the Fiat S.p.A. logo and Chrysler Pentastar logo for group branding. [66]
FCA US, LLC, doing business as Stellantis North America and known historically as Chrysler ( KRY-slər), is one of the "Big Three" automobile manufacturers in the United States, headquartered in Auburn Hills, Michigan. It is the American subsidiary of the multinational automotive company Stellantis. Stellantis North America sells vehicles worldwide under the Chrysler, Dodge, Jeep, and Ram Trucks nameplates. It also includes Mopar, its automotive parts and accessories division, and SRT, its performance automobile division. The division also distributes Alfa Romeo, Fiat, and Maserati vehicles in North America.
John Philip Jacob Elkann is an Italian industrialist. In 1997, he became the chosen heir of his maternal grandfather Gianni Agnelli, following the death of Gianni's nephew Giovanni Alberto Agnelli, and since 2004 has been leading the Agnelli family, an Italian multi-industry business dynasty. The family has been compared to the US political family of the Kennedys.
Peugeot S.A., trading as Groupe PSA was a French multinational automotive manufacturing company which produced automobiles and motorcycles under the Peugeot, Citroën, DS, Opel and Vauxhall brands. On 18 December 2019, PSA and Fiat Chrysler Automobiles (FCA) announced that they had agreed to the terms of a binding $50 billion merger. On 16 July 2020, both companies announced the new name for their merged operations, Stellantis. The deal closed on 16 January 2021. As of 2022, Stellantis is the fourth largest automaker by sales behind Toyota, Volkswagen Group, and Hyundai Motor Group.
Brampton Assembly Plant is a Stellantis Canada automobile factory located at 2000 Williams Parkway East Brampton, Ontario, Canada. Originally built by American Motors Corporation (AMC) for US$260 million, in the former Bramalea area of Brampton, the manufacturing plant was specially designed for building the Eagle Premier. Its role since has primarily been to assemble full-sized Chrysler products.
Ralph Victor Gilles is a Canadian-American automobile designer and executive, and current Chief Design Officer of Stellantis NV. His career started in 1992, where he joined Chrysler. During his time at Chrysler, he was responsible for designing the North American Car of the Year-winning 2005 Chrysler 300, as well as led the design team that created the 2013 SRT Dodge Viper. Gilles was the president and CEO of Chrysler's SRT brand and senior vice president of design at Chrysler before being promoted to head of design for Fiat Chrysler Automobiles in April 2015. Following FCA's merger with PSA Group forming the Stellantis group in 2021, he was appointed the Chief Design Officer of the newly merged company.
Sergio Marchionne was an Italian-Canadian businessman, widely known for his turnarounds of the automakers Fiat and Chrysler, his business acumen and his outspoken and often frank approach, especially when dealing with unpalatable issues related to his companies and the automotive industry.
Fiat Automobiles S.p.A. is an Italian automobile manufacturer, formerly part of Fiat Chrysler Automobiles, and since 2021 a subsidiary of Stellantis through its Italian division Stellantis Europe. Fiat Automobiles was formed in January 2007 when Fiat S.p.A. reorganized its automobile business, and traces its history back to 1899, when the first Fiat automobile, the Fiat 4 HP, was produced.
Ram Trucks is an American brand of light to mid-weight pickup heavy duty trucks and other commercial vehicles, and a division of Stellantis. It was established in a spin-off of Dodge in 2010 using the name of the Ram pickup line of trucks. Ram Trucks's logo was originally used as Dodge's logo. Ram 1500 "Classic" trucks will be made at the Warren Truck Plant in Warren, Michigan, United States, and at the Saltillo plant in Saltillo, Coahuila, Mexico, until their discontinuation after the 2024 model year. New series Ram 1500 pickups are made at Sterling Heights Assembly in Sterling Heights, Michigan. Since its inception, the brand has used the slogan "Guts. Glory. Ram."
FCA India Automobiles Private Limited (FCAIPL), formerly known as "Fiat Group Automobiles India Private Limited", is the Indian subsidiary of Stellantis, formed in 1997. The company was established for the production of cars and engines under the brand Fiat, Abarth, and Jeep. It is the ninth largest Indian car manufacturer by sales in India.
The Dodge Dart is a front-engine, front-wheel drive, four-door compact sedan that was manufactured and marketed by then FCA US LLC, a subsidiary of Fiat Chrysler Automobiles. The automobile made its debut at the 2012 North American International Auto Show in Detroit, Michigan. In some non-US markets, the Dodge Dart is sold as the Fiat Viaggio.
The SCCS platform, also called Small Platform or 199 platform is an automobile platform originally developed by Fiat for subcompact, front-wheel drive, and all-wheel drive vehicles. It was first used on the Fiat Grande Punto, which was unveiled in 2005. Developed during the GM-Fiat alliance, the platform was also used for some Opel models including the Opel Corsa D and E. A derivative called the Small Wide platform was introduced in 2012 for applications on larger cars in the compact segment. Usage of the platform continued through the merger of Fiat and Chrysler which created Fiat Chrysler Automobiles (FCA), and the merger of FCA and PSA which formed Stellantis.
GAC Fiat Chrysler Automobiles Co., Ltd. was an automobile manufacturing company headquartered in Changsha, China. It was a 50:50 joint-venture between the GAC Group and Stellantis. The company was founded on 9 March 2010. Fiat agreed to invest an initial US$559 million in the venture.
Stellantis Europe S.p.A., formerly known as Fiat Group Automobiles S.p.A. from 2007 to 2014 and FCA Italy S.p.A. from 2014 to 2023, is the Italian subsidiary of the multinational automaker Stellantis, dedicated to the production and selling of passenger cars and light commercial vehicles and headquartered in Turin, Italy.
FCA Bank S.p.A., is an Italian financial institution that focuses on car financing, it a structured as joint venture between FCA Italy and Crédit Agricole Consumer Finance.
The EcoDiesel is a diesel engine used in Ram Trucks and Jeep vehicles from 2014 to 2023. Introduced by Fiat Chrysler Automobiles, the EcoDiesel name was used for two different engines. The first was the VM Motori L630, the North American variant of the A 630 DOHC 3.0L engine, which was used in the Ram 1500 and the Jeep Grand Cherokee. The other was a 3.0L inline-4 Iveco diesel engine used in the Ram ProMaster, the North American version of the Fiat Ducato. The ProMaster with the Iveco/EcoDiesel was available from 2014 to 2017.
Olivier François is a French business executive and the current CEO of Fiat and Abarth. He is global chief marketing officer for Stellantis, and a member of the company's Group Executive Council, a position he has held since September 2011. Due to his attention to creativity, he has been referred to as "Chrysler's Don Draper". In 2024, François was inducted into the American Advertising Federation Hall of Fame.
Michael Manley, often known as Mike Manley is an English businessman and current CEO of American automotive retailer AutoNation. He previously served as managing director of the North American operations of Stellantis. In 2018 Manley was appointed as CEO of Fiat Chrysler Automobiles (FCA), following the announcement that previous CEO Sergio Marchionne would step down for health reasons.
Stellantis N.V. is a multinational automotive manufacturing company formed from the merger in 2021 of the Italian–American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group. The company headquarters are located in Hoofddorp, Netherlands.
The FCA Giorgio Platform is an automobile platform made by Fiat Chrysler Automobiles since 2015 debuting in the Alfa Romeo Giulia. Although following the merger with Groupe PSA to form Stellantis in 2021 the future of the Giorgio platform became uncertain, the platform is currently being modified to better accommodate both plug-in hybrid, and electric power plants, with not only the hybrid Jeep Grand Cherokee and fully electric Maserati Gran Turismo using the Giorgio platform, but also the future Maserati Levante, and future Giorgio platform cars using the company's V6 engine. Some models however, will transition to the STLA Large EV platform.
Samelet is a privately held Israeli dealership of imported automobiles. The company has been the sole importer of Fiat in Israel, and is the official representative of Subaru, Ferrari, and the FCA automobile corporation which includes Fiat and Chrysler. Samelet employs 350 workers country-wide. It represents 20% of the car brands in Israel, and operates a network of branches throughout the country.