Carlos Tavares added that the reports about Stellantis leaving Italy are “fake news”
April 16, 2024 at 10:38
- Carlos Tavares was approached by a Chinese automaker looking to buy one of its French brands.
- Reports of Stellantis abandoning Italy are “fake news” according to the Stellantis CEO.
- Tavares added that an offer for Alfa Romeo in 2021 was rejected as well.
Stellantis chief executive Carlos Tavares says that none of the conglomerate’s brands are for sale and after revealing they had received offers to sell Alfa Romeo, said that another offer came for one of its French brands.
While recently speaking with media members at the launch of the now-renamed Alfa Romeo Junior, Tavares acknowledged that certain executives advised him to kill some of the group’s brands in 2021, shortly after the PSA Group merged with Fiat Chrysler Automobiles. He added that during the same year, a Western competitor offered to buy Alfa Romeo while in 2023, an unspecified Chinese brand came knocking for one of its French brands.
Read: Stellantis Boss Won’t Sell Alfa Romeo To Chinese, New Stelvio Arrives In 2025
“This time it was a Chinese company knocking at the door asking: ‘Will you sell me this brand?’ I will not say which brand, but it was a French one. I said: ‘No, of course not,’” he told Autocar.
While Tavares hasn’t named the brand in question, the only French brands within the Stellantis group are DS Automobiles, Citroen, and Peugeot. He also didn’t name the Chinese company.
Tavares was similarly defiant in rejecting a buyout offer for Alfa Romeo.
“It took me less than one second to say: ‘Are you kidding me?’ Alfa Romeo is possibly the greatest jewel we have in our powerhouse of 14 iconic brands. Of course, I said no.”
Tavares also took the opportunity to vehemently deny suggestions that Stellantis is pondering an exit from Italy and could dismantle Fiat. The Stellantis boss said that they have €5 billion ($5.3 billion) in new investments in Italy, which would lead to the production of 15 new models and two new platforms. It is also planning a battery factory in the country.
“The unfair criticism addressed to some of our people in our company is about the fact we have fake news – yes, fake news – flying around that Stellantis would not stay in Italy, would not invest in Italy, would dismantle Fiat,” he added. “My position is clear: this is fake news.”
