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The European alliance that could change the global auto industry

2024-03-19 12:26:02Kosova&Bota SHKRUAR NGA REDAKSIA VOX

The European alliance that could change the global auto industry

As the Chinese seem to continue to put pressure on European manufacturers and the EU has decided on tougher environmental rules, two major European groups appear to be very close to an agreement. Renault and Stellantis are in the process of closer cooperation or even a possible merger.

Stellantis chairman John Elkann has dismissed speculation of a possible merger with Renault, following reports of a French-led combination to counter Chinese and German competition. Elkann clarified that there are no plans under consideration for mergers with other manufacturers.

Stellantis is focused on implementing a plan that includes working with the Italian government and industry stakeholders to address the challenges of the transition to electrification.

The rumors had initially sent Renault shares higher, but Elkann's statement allayed concerns, saying such a merger would face antitrust hurdles and social issues due to overlapping facilities in France.

Stellantis chief executive Carlos Tavares has previously commented on the possibility of mergers in the car industry, citing factors such as the rise of Chinese manufacturers and the EU's aim to phase out internal combustion engines.

Tavares suggested that antitrust authorities would take these conditions into account when approving large deals. While Tavares has expressed interest in Renault, he has not ruled out possible future interest in other automakers.

The Italian government has expressed concern about Stellantis' actions, prompting discussions about possible state involvement as a counterweight to French influence.

 


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