Stellantis CEO says 4th largest carmaker to be disruptive

MILAN (AP) — Fiat Chrysler Automobiles and PSA Peugeot on Wednesday reported their last financial statements as independent companies, each contributing full-year profits of around 2 billion euros to the new company, Stellantis, formed in January.  Fiat Chrysler reported adjusted net profits in the pandemic year of 1.9 billion euros, down by 57% from 3.4 billion in 2019. PSA Groupe, meanwhile, reported full-year earnings of 2.2 billion euros, down 32% from 2019’s 3.2 billion euros.The Italian-American carmaker and the French mass-market automotive company completed their merger on Jan. 16,  creating Stellantis, the world’s fourth- largest carmaker.