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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.

Ram Rebel X Concept wishes it could go offroad at SEMA [w/video]

Given the truck's defiant spirit, the Ram 1500 Rebel simply can't appear subdued. For the Rebel X Concept at the SEMA Show, Mopar goes all out to make the already tough looking pickup even more brash. The Rebel X certainly stands out in the vast ocean of customs at SEMA with its orange-tinted Copper paint. Thanks to 35-inch Toyo tires on 17-inch beadlock wheels underneath flared fenders, there's also no question that this truck wants to be offroad. In addition to the vibrant body, the front end wears black trim, and a concept, two-piece skid plate underneath offers a little visual contrast. The interior actually tones down the bold look slightly by combining black leather seats with Rebel X embroidery and Copper stitching. Rather than being just about style, Mopar beefs up the 5.7-liter V8 with a cold-air intake and cat-back exhaust. The division also tweaks the suspension by fitting a concept, air-ride setup. Get a better look at the Rebel X by checking out our gallery from SEMA above or the video below of the modded pickup at the show. Related Video: Ram Rebel X The Ram 1500 Rebel makes a statement by itself. Mopar helps proclaim its all-terrain credentials even louder with the Ram Rebel X, a full-size pickup outfitted with a catalog of production parts and accessories. The unique dark Copper exterior extends to the functional sport performance hood, accented with a Matte Black graphic trimmed with a Mopar Blue tracer. Mopar wheel flares extend over the 35-inch Toyo tires, which wrap around 17-inch cast-aluminum beadlock wheels that equip the 1500 Rebel for rumbles over off-road terrain. Painted functional beadlock rings with fasteners are also featured on the beadlock wheels, with Mopar center caps providing another highlight to the rims. The front features the distinctive Rebel grille with the RAM logo painted in Satin Black and a concept two-piece skid plate. The bed is stylishly secured with a soft tri-fold tonneau cover, and a Mopar dual exhaust bed step helps reach tools or equipment stored in the rear. Black tubular side steps provide a lift into the interior, which features prototype Katzkin leather seats embroidered with the Rebel X name outlined in silver in a black field, with a blue field for the "X." Copper stitching accents the armrest and steering wheel. Additional features inside include all-weather slush mats, a pedal kit and door sills.

Ram confirms Fiat Ducato vans to form new Promaster series for US

Chrysler has officially confirmed that Ram will develop an all-new large van for the US market based on the Fiat Ducato. The commercial rig will go on sale in the third quarter of next year, joining the Ram C/V on the company's professional van line. Expect to see the Promaster face off against the Ford Transit and revised Chevrolet Express.
Chrysler is pretty skimpy on details when it comes to the Promaster, but it has said the vehicle will make use of "familiar Ram Truck styling cues." The van will reportedly also bow with powertrains targeted specifically at the North American market.
Chrysler and Ram made the announcement ahead of the LA Auto Show alongside news that the company will launch a new Ram commercial truck division.