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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.

Ferrari 488 Spider configurator is just in time for summer

The weather is just starting to show signs of being nice enough for open-top driving, which makes it a perfect time to configure a Ferrari 488 Spider. The configurator lets you select every aspect of your future Ferrari, and that means this Prancing Horse will fully let you express your own personality. In this case, you can spec out the 488 Spider as a track monster with a plethora of carbon fiber parts, or if you want more of a grand tourer, there are options like electric seats and the choice to alter practically every part's color. Unfortunately, none of the selections come with a price, so there's no way to know how much the gold metallic paint for the brake calipers adds to the bottom line. It's fun to dream, though. Mechanically, the 488 Spider is identical to its coupe sibling. The engine is a 3.9-liter twin-turbo V8 with 661 horsepower and 560 pound-feet of torque. A seven-speed dual-clutch gearbox sends that muscle to the rear wheels. The droptop can reach 62 miles per hour in 3.2 seconds, just a few tenths off the coupe, and the Spider's top speed is 203 miles per hour. As for the final number for those who love tracking every bit of performance with a stopwatch: the roof hides away in a scant 14 seconds. Related Video:

Here are all the new 2022 season F1 cars (UPDATED)

Update: Since this post's original publishing, the rest of this season's teams have revealed their 2022 cars. We've updated the post with all of them, so it now includes every 2022 F1 car on the grid. The updated story continues below. Reveals of the 2022 F1 cars are coming fast and heavy, and at this point, every team has shown off their redesigned cars. This being the case, we figured it was time to provide you all with a place to see all the cars at once. The gallery above holds photos of all the cars, and below you’ll see all them broken down by teams and drivers, along with quotes from the drivers and team leaders that come via F1Â’s official website where the cars were revealed. Mercedes W13 - Lewis Hamilton and George Russel "It just takes you back to being a kid," Hamilton said. "I think itÂ’s always exciting watching, I mean with this new era of car, weÂ’ve never seen such a drastic change, right? "So itÂ’s such a huge change in so many ways, that itÂ’s just been really interesting seeing the designers and everyone coming together to find the best ways of creating a masterpiece." “It feels incredible, obviously Lewis and I have driven so many laps in the simulator of this,” Russel said. “WeÂ’ve seen all the drawings, weÂ’ve had so many meetings and presentations about it, but suddenly seeing it all come together, seeing all of the men and women who have put so much hard work and grit into making this, and coming together here, I think it looks incredible. “And I think the silver [coming] back, weÂ’ve had an incredible livery with the black in the past couple of years – but the silver back on track I think is going to look incredible." Ferrari F1-75 - Charles Leclerc and Carlos Sainz “I think it looks aggressive, it looks radical, and I think it looks beautiful also Â… I just hope itÂ’s fast,” said Sainz. “ItÂ’s innovative, different, thinking a bit out of the box. I like it because itÂ’s just radical, which is what you want to see when you see a new car.” “Yes, I do [like the livery],” Leclerc said. “I think it fits perfectly. ItÂ’s a bit of a dark red, looks a bit more aggressive, but for a car like this, I think it fits perfectly.