Automaker Stellantis reaps $15B profit in 1st year of merger

FRANKFURT, Germany (AP) — Automaker Stellantis says it made a solid 13.4 billion euros in its first year. That’s three times the profit from the two separate companies that combined to make Stellantis at the start of the 2021. The company said Wednesday that the merger of Fiat Chrysler and PSA Group paid off in cost efficiencies worth more than 3 billion euros. The company scaled up its production of battery cars, joining a global trend as it made almost 400,000 low-emission vehicles. The company also announced that its 43,000 U.S. workers represented by the United Auto Workers union will get record profit-sharing checks of $14,670.