Renault and Stellantis debunk merger rumors

Following a number of media reports about Renault considering a merger deal with Stellantis, the executives of both companies responded calling them “baseless speculation.”

However, reporters in Italy continue to insist that negotiations did take place. Furthermore, they claim that the government of France, which allegedly holds a stake in both companies, approves of the merger.

Rumors agree that the goal of this move is to create a transnational corporation like Airbus that would become Europe’s largest automobile business (dethroning Volkswagen Group) and be able to resist the expansion of China with its cheap EVs.