MILAN, Nov 30 (Class Editori) — Stellantis N.V. and Banco Santander Brasil have decided to reorganize their partnership in financing Brasil’s cart sector. The contract signed with Banco Santander Brasil calls for Banque PSA Finance S.A. to purchase 50% of the shares of Banco PSA Finance Brasil, a joint venture held 50/50 by a subsidiary of Banco Santander Brasil and Banque PSA Finance, and for Stellantis Services Ltd. to purchase 50% of the shares of PSA Corretora de Seguros and Services Ltd., a joint venture held 50/50 by Banco Santander Brasil and Stellantis Services Ltd.
Once the transaction is completed, Banque PSA S.A. will become the only shareholder of Banco PSA Finance Brasil, and Stellantis Services Ltd. will become the only shareholder of PSA Corretora, as explained in a note.
Stellantis and the electric hatchback market
Meanwhile, as MF-Milano Finanza wrote, Stellantis is looking to India to bring electric cars to the mass market. In late November, CEO Carlos Tavares was on a visit to the subcontinent, where the Group formed by the merger of Fiat-Chrysler and Peugeot has invested more than 1 billion over the past six years. It is no mystery that the manufacturer considers the Indian market to be among the most promising ones in terms of sales.
What is new, however, is that Stellantis also sees India as a potential manufacturing hub for low-cost electric cars to be exported around the world.
Today the stock is unchanged at 14.71 euros for 46 billion of capitalization.
(Source:Class Editori)
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