Stellantis-Renault merger, 'only speculation' says Tavares

After days of rumours Carlos Tavares, CEO of Stellantis, puts to rest the rumours of a possible merger with Renault. And talks about retirement

Carlos Tavares

Photo by: Motor1 Italia

By: Massimo Grassi

Published by: Brian Potter

Oct 4, 2024 at 3:53am ET

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No, the merger between Stellantis and Renault will not happen. Carlos Tavares, CEO of Stellantis, put an end, according to Bloomberg, to the rumours that have held sway in recent days during a press conference at the Peugeot plant in Sochaux."They are pure speculation", commented the Portuguese manager.

The two Groups will therefore continue to work alone, without creating what could have been one of the most important car mergers in history, to create the second largest automotive Group on the planet.

Going it alone

The speculation is the result of the difficult times experienced by the auto industry, with Stellantis suffering in various markets (Italy first and foremost) but not intending to continue along the path mapped out by the Dare Forward 2030 plan presented a few years ago.

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History closed then, at least as far as company policies are concerned. Instead, the question of Tavares' replacement at the helm of Stellantis remains open. At the head of the Group since its inception (16 January 2021), the former PSA number one could leave the helm in 2026. An indiscretion first reported by Automotive News and confirmed - in part - by Tavares himself. "Retired in 2026? It is an option. In two years I will be 68, a reasonable age to go".

Of course, the news a few days ago had already triggered the guessing game for the replacement, with Luca De Meo (CEO of the Renault Group) leading the way. Again, this is speculation.