In recent weeks, rumors had surfaced suggesting a possible merger between Stellantis and Renault, or at least a very deep partnership. However, these rumors were denied by John Elkann, the chairman of the group, and now by Stellantis’ CEO, Carlos Tavares, who has completely ruled out any possibility of a merger between the two major automotive companies.
Carlos Tavares denies any possibility of a merger between Stellantis and Renault
The Portuguese manager confirmed what John Elkann, chairman of Stellantis, had already stated regarding rumors of a possible merger between the group formed by the merger of FCA and PSA and Renault, when the initial speculations emerged. “There are no negotiations underway for any major merger or acquisition. I want to be clear and decisive to avoid fueling speculation. What has circulated in recent weeks is exactly that: speculation,” Tavares explained during a press meeting.
Carlos Tavares continued by saying, “We need to adopt a perspective that recognizes Stellantis’ main challenge in competing with Chinese rivals, using our best talents to identify areas and technologies where we can make significant progress to surpass them in terms of costs and results. Will we rely on Italian engineering? Absolutely yes, in fact, we have already started this process. I can mention two examples: the Battery Technology Center in Turin, a state-of-the-art lab dedicated to the development and testing of new chemical solutions for batteries, and Stellantis’ first Circular Economy Hub, also in Turin.”
Tavares knows well what to do and where to improve to remain competitive in a sector that, with the shift to electrification and the growth of competition, especially from Chinese automotive companies, is expected to become increasingly complex in the coming years.