- Stellantis and Renault execs firmly rejected merger rumors, calling them mere speculation with no substance.
- Italian media claimed that the two groups could collaborate to create the “Airbus of the car industry”.
- Additionally, it was reported that BMW may join Stellantis and Renault in forming a strategic automotive alliance.
Executives from Stellantis and Renault have firmly shot down reports suggesting that the two carmaking giants could merge to form a new automotive superpower, dismissing these claims as mere speculation.
Murmurings of a potential merger between Stellantis and Renault started earlier this year, largely driven by reports in the Italian media. Recently, a report from First Online claimed that the goal of such a merger would be to create a new European automotive colossus, one capable of dethroning Toyota from its position as the world’s largest automaker.
The report also suggested that the combined entity could overtake the Volkswagen Group as Europe’s leading car manufacturer. Moreover, it had been speculated that French President Emmanuel Macron is supportive of this idea, favoring a strategic alliance between the two major brands to bolster Europe’s automotive sector.
Read: Rumored Merger With Renault Not Happening, Says Stellantis Boss
However, while recently speaking with members of the media during a visit to one of the Stellantis factories in eastern France, chief executive Carlos Tavares described the reports as “pure speculation.” Additionally, Renault chief executive Luca de Meo dismissed them as “rumors” while speaking at a company event in Paris.
The French government has a vested interest in the future of the Stellantis and Renault brands. It owns 15% of Renault and has a 6.1% share in Stellantis. Additionally, Macron is said to be keen for Renault boss Luca de Meo to head up the new supergroup. First Online adds that Stellantis chair John Elkann supports the plan.
Interestingly, Italian media speculates that it’s not just Stellantis and Renault that could merge to create the “Airbus” of the car industry. Some sources claim that BMW has recently joined the fold as a potential third partner and could bring with it its expertise in high-end electric vehicles. Executives from the three brands may meet at the Paris Motor Show, kicking off next week.
Both Tavares and de Meo are scheduled to attend the biennial show in the French capital. When Reuters asked de Meo what he might discuss with Tavares at the event, the Renault CEO responded nonchalantly, saying, “I will greet him, as always.”
