Rumors of a possible merger between Stellantis and the Renault group surfaced recently, which quickly set the automotive world ablaze.
However, if we trust the leaders of the two companies, the whole thing would just be a show.
For his part, Carlos Tavares, CEO of Stellantis, declared that the whole thing was “pure speculation”. He spoke thus during a visit to one of the group’s factories in eastern France, reports Automotive News.
Luca de Meo, Renault’s top boss, refused to comment on what he described as mere “rumours”.
If rumors had emerged at the beginning of the year, what revived them was an article published this week by the Italian newspaper Il Sole 24 Ore. The latter reported that discussions concerning a merger between the two companies had become more persistent. The economies of scale of a potential merger were considered as a possible solution to manage the very strong competition experienced by all manufacturers across the industry.
At Stellantis, we have reported a few times in recent weeks that things are not always rosy. The manufacturer’s shares are in free fall, 55% since March. The value of the company lost 47 billion euros.
You can bet that at the next Paris Auto Show, which will begin on October 14, where Carlos Tavares and Luca De Meo will be present, the question will come back on the table and the two men will be assailed by the media.
We will monitor everything very closely.
Original content from auto123.
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