ISTANBUL

Italian-American carmaker Fiat Chrysler (FCA) and France's Groupe PSA -- owner of Peugeot, Citroen and Opel -- have named the combined company resulting from their merger as Stellantis.

"Stellantis is rooted in the Latin verb 'stello' meaning 'to brighten with stars'," the automakers said in a joint press release late Wednesday.

The name will be exclusively used at a corporate level, the companies said, adding that a logo will be unveiled soon.

The names and the logos of the group’s constituent brands will remain unchanged, and the 50-50 merger, agreed last December, is expected to be completed in the first quarter of 2021.

Earlier, the FCA proposed a similar merger with Renault, but the French automobile manufacturer turned it down.

Fiat and Chrysler merged to form the FCA in 2014.