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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.

2014 Jeep Cherokee: Fall colors tour [w/video]

The Trailhawk's rugged good looks were right at home against the backdrop of changing seasons. Regardless of where you choose to call home, you've probably seen, or at least heard, about the Pure Michigan ads, showing off all the splendor that the Mitten State has to offer. You can make fun of them all you want (several spoofs already exist), but as a native, I fully stand behind the idea that Michigan is a truly gorgeous place. The western coast along Lake Michigan and the northern half of the Lower Peninsula are seriously pretty, and vastly different from the southeastern area that houses big cities like Detroit, Ann Arbor, Flint, and so on. Beyond that, the Upper Peninsula is the closest you'll get to seeing vast spoils of untouched wilderness, and trust me – it's truly pretty. I've seen the world, but I still feel all warm and fuzzy every time I venture north to experience all the vistas that my own state has to offer. In the autumn months, the changing leaves in Michigan put on quite a display. Sure, this happens all over the world, but we truly embrace autumn in the Wolverine State, and practically every Detroit-based Autoblog staffer has gone on at least one fall colors tour to the northern Lower Peninsula to take it all in. That's exactly what associate multimedia producer Chris McGraw and I did just over a month ago, behind the wheel of our long-term 2014 Jeep Cherokee. The Trailhawk's rugged good looks were right at home against the backdrop of changing seasons, and we opted to capture the whole experience on video for this latest long-term update. The Tunnel of Trees is a picturesque stretch of Michigan's M-119 highway that starts just northeast of Petoskey. As you can see in the video above, the Tunnel of Trees is a picturesque stretch of Michigan's M-119 highway that starts just northeast of Petoskey and follows Lake Michigan's Little Traverse Bay. This winding road through the woods goes on for nearly 30 miles, largely unobstructed by neighborhoods, fueling stations, shops, or roadside fodder, and spits you out at the famous Legs Inn in Harbor Springs. (Top-notch Polish food, if you're hungry.) From there, you can either continue north toward Mackinac City and the Mackinac Bridge that connects Michigan's lower and upper peninsulas, or you can turn around and take in all the goodness again.

Chrysler axes old V6s, goes all-Pentastar

Old technology has a way of lingering on, particularly at Chrysler headquarters in Auburn Hills. So while the Pentastar V6 has replaced the older engine architecture in just about every application, it still soldiered on in some export markets. But the introduction of a new 3.0-liter Pentastar V6, produced in Michigan and meant only for the Chinese market, has put the final nail in the old engine's coffin.
Fitted into the 2014 Jeep Grand Cherokee and Jeep Wrangler just introduced to China at the Chengdu Motor Show, the downsized six uses the same architecture as the larger 3.6-liter Pentastar V6. But because of its 2,997cc capacity, it can be exported to China without the increased duty the 3.6-liter or even 3.2-liter Pentastar engines would incur. The 3.0-liter V6 develops 230 horsepower at 6,350 rpm and 210 pound-feet at 4,400 rpm.
Admittedly, it's unlikely, but even though the engine was said to be created solely to undercut tax thresholds in China and Europe, the 3.0-liter Pentastar has recently surfaced in rumors of an application here: as the boosted heart of a potential Cherokee SRT with anywhere from 375 to 410 hp.