Stellantis Denies Merger Plans After Renault Report

Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault.

Elkann said that the Peugeot owner, the world’s third largest carmaker by sales, was focused on the execution of its long-term business plan.

“There is no plan under consideration regarding merger operations with other manufacturers,” said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis.

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