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Stellantis not looking for further mergers, including with Renault

MILAN — 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. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.

Towing with the 2016 Ram lineup [w/video]

I do not tow things. Ever. Yet I recently found myself at the Fiat Chrysler Automobiles proving grounds in Chelsea, MI, where I'd be testing the hauling capabilities of Ram's current product range. This experience was not only a perfect education for a towing novice like me, but allowed me to tow far more weight than I'd ever consider hauling the real world, and all within the safe confines of the Chelsea Proving Grounds. There was an extremely diverse array of vehicles at my disposal, including Ram's gasoline- and diesel-powered offerings with trucks ranging from the 1500 on up through the 5500 Chassis Cab, as well ProMaster vans. Beyond that, FCA brought out a number of vintage Dodge pickups for me to play with, while also working with Case IH to provide a track-loader I could test. I put together a range of videos covering everything from the classics to the production trucks to the construction equipment. And despite some technical difficulties – you'll notice a distinct lack of in-car videos, with blame going to a corrupted micro SD card – I've assembled ten videos that give an up-close look at Ram's offerings. 2015 Ram ProMaster City Let's start small. The ProMaster City only has a towing capacity of 2,000 pounds. That's a reasonably impressive figure for a van that uses the same powertrain as a Chrysler 200. The 2.4-liter four-cylinder and nine-speed automatic weren't really bothered with the extra weight added by the trailer. Even when accelerating at freeway speeds, the ProMaster City didn't feel out of breath or hampered by its load. That said, the rear of the van was unloaded, which probably wouldn't be the case for most consumers. It's unclear how the City would feel if its driver were taking advantage of the max payload (1,883 pounds) and towing. 2015 Ram ProMaster 1500 To be polite, the Ram ProMaster is a difficult vehicle to like. Its awkward seating position is bus-like and lacks the visibility enjoyed by the Ford Transit or the utter driving comfort of the Mercedes-Benz Sprinter. Its 3.0-liter, four-cylinder turbodiesel engine, meanwhile, is something of an anomaly. While it's potent for a four-cylinder diesel, producing 295 pound-feet of torque and 174 horsepower, those numbers don't feel all that impressive when loaded down. The model I tested was barely using half of its 5,100-pound maximum towing weight and was loaded down with just 500 of its 3,620-pound payload. Yet it lacked the pluckiness of the smaller City.

Stellantis wants to outfit cars with AI software to drive revenue

MILAN — Carmaker Stellantis announced a strategy Tuesday to embed AI-enabled software in 34 million vehicles across its 14 brands, hoping the tech upgrade will help it bring in 20 billion euros ($22.6 billion) in annual revenue by 2030. CEO Carlos Tavares heralded the move as part of a strategy that would transform the car company into a “sustainable mobility tech company,” with business growth coming from features and services tied to the internet. That includes using voice commands to activate navigation, make payments and order products online. The company is expanding existing partnerships with BMW on partially automated driving, iPhone manufacturer Foxconn on customized cockpits and Waymo to push their autonomous driving work into light commercial vehicle delivery fleets. StellantisÂ’ embrace of artificial intelligence and expansion of software-enabled vehicles is part of a broad transformation in the auto industry, with a race toward more fully electric and hybrid propulsion systems, more autonomous driving features and increased connectivity in automobiles. Ford and General Motors also are banking on dramatically increased revenue from similar online subscription services. But the automakers face immense competition for monthly consumer spending from movie and music streaming services, news outlets, Amazon Prime and others. Stellantis, which was formed from the combination of PSA Peugeot and FCA Fiat Chrysler, said the software would seamlessly integrate into customers' lives, with the capability of live updates providing upgraded services over time. New products will include the possibility to subscribe to automated driving features, purchase usage-based car insurance or even increase the power of the vehicle with a tune-up to add horsepower. As a baseline, Stellantis generates 400 million euros in revenue on software-generated services installed in 12 million vehicles. To meet the targets, Stellantis will expand its software engineering team of 1,000 to 4,500 in North America, Asia and Europe. More than 1,000 of the expanded team will be retrained in house. Stellantis also announced a new partnership with Foxconn to develop semiconductors to cover 80% of the companyÂ’s needs and simplify the supply chain. The first microchips from the partnership are targeted to be installed in vehicles in 2024.