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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.

FCA plants skipping summer shutdown to keep up with demand

Hopefully, some FCA US factory employees don't have big plans for the usual summer shutdown, because the automaker is keeping several plants running this year. Demand is so high that the company wants to keep models rolling off the assembly lines. Four FCA US assembly plants, all the engine factories, and some locations that build transmissions are staying open throughout the summer, according to the Detroit Free Press. Usually, these sites would see a two-week shutdown for the company to retool and perform repairs. This year, factories are staying open for FCA to support its strong sales. The lines that remaining humming through the summer show an inclination toward the automaker's popular SUV's and crossovers. They include the Jefferson North Assembly Plant in Michigan that builds the Jeep Grand Cherokee and Dodge Durango; Saltillo Van Assembly in Mexico that constructs the Ram ProMaster; Toledo Assembly Complex in Ohio that produces the Cherokee and Wrangler; and Toluca Assembly in Mexico that makes the Dodge Journey and Fiat 500. Related Video: News Source: The Detroit Free PressImage Credit: Bill Pugliano / Getty Images Plants/Manufacturing Dodge Fiat Jeep RAM FCA dodge journey fca us ram promaster Jefferson North Assembly Plant

Mopar Hellephant is sold out, but here are 4 other awesome crate V8s to try

Despite a relatively enormous $30,000 price tag, Mopar's 1,000-horsepower supercharged Hellephant crate engine sold out in just 48 hours. Some enthusiasts may have missed out on the crazy engine due to lack of funds, or they just assumed there would still be some Hellephants down the line. But worry not, swap-happy gearheads. There are plenty of V8s in the world to pick from, and we highlighted four favorites. They're not as powerful, but they're all cheaper, and still have a lot to offer. Mopar 6.2L Hellcrate Odds are a lot of prospective Hellephant buyers were Mopar fans to begin with, so we'll start the list with the next-most-potent offering: the Hellcrate. This is the same supercharged 6.2-liter V8 found under the hood of the Dodge Charger and Challenger Hellcats and the Grand Cherokee Trackhawk. It makes 707 horsepower and 650 pound-feet of torque like those cars, too. It's also about $10,000 cheaper than the Hellephant engine at $20,020, and that leftover money can be used to finish the project or for aftermarket upgrades to get it closer to the Hellephant's output. GM LS9 6.2L The Hellcrate isn't the only factory supercharged crate engine on the market. From General Motors comes the supercharged 6.2-liter LS9 V8. This is the engine that was used in the C6 Corvette ZR1. At 638 horsepower and 604 pound-feet of torque, it doesn't make as much power or torque as the Hellcrate. But it does boast a dry sump oil system. So instead of pumping oil out of a pan at the bottom, the engine uses an oil tank mounted remotely that pumps oil into the engine. This means the engine is shorter overall, and can be mounted lower for a better center of gravity. It also means that there's almost no risk of running the engine dry in hard cornering, as could happen with a normal oil sump where the oil can slosh to the side without the oil pump. Basically, it offers some major benefits if you want supercharged V8 power for a road course car. It's also a tad cheaper than the Hellcrate at $18,149. But get one while you can, because GM is only selling what's left from when it was building the C6 ZR1. Ford Aluminator 5.2XS Our pick from the Blue Oval lacks a supercharger, but it's still pretty sweet.