Stellantis N.V. (BIT:STLAM) and Renault SA (ENXTPA:RNO), Chief Executives have both played down recent press speculation about a possible tie-up between the two carmakers. Italian daily Il Messaggero said earlier in the February month 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. "We don't have any projects in progress, we don't have any discussions in progress," Carlos Tavares, Chief Executive Officer of Stellantis, the world's third-largest largest carmaker by sales, said during a call with media on February 15, 2024 after delivering 2023 results.

His counterpart at Renault, Luca de Meo, said in an interview with French paper Le Figaro released late on February 14, 2024 that large-scale consolidation was complicated, particularly during a period of industry upheaval as carmakers develop electric vehicle and hybrid technologies. "On paper, Tesla Inc. could buy Volkswagen AG or Stellantis: it has the means. Why doesn't it do it?

Probably because it's not that simple and perhaps not that interesting. A merger only succeeds if there is a will on both sides," he said. He said it is better to be agile at times of volatile demand and as technologies evolve.

Last week, Stellantis Chairman John Elkann also denied that the carmaker had merger plans.