How the French press sees Stellantis
Too many brands, unknown factories and amazement at the (absent) role of the Italian state in Stellantis (while the Paris government is a shareholder through Bpifrance of the French CDP). Here is what the French press is saying about the merger between FCA and PSA with the birth of Stellantis
Too many brands to invest in and five billion synergies to achieve without closing factories. And then, what happened to the Italian state? Shouldn't it have entered the capital of the group as France did?
Seen from Paris, the birth of Stellantis with the merger between FCA and the French PSA , raises more than a few questions.
The cousins from beyond the Alps are cautious in expressing an opinion on the prospects of the fourth largest car manufacturer in the world. For the French newspaper Le Monde , the size of the new group can be an asset, but "the challenge is how to ensure the continuity of its fourteen brands".
WHAT THE WORLDS WRITE ABOUT STELLANTIS
"Maintaining an overabundant catalog requires an important mobilization of resources to ensure the development and distribution of all brands when the forced transition to the electric car market requires significant investments – reads the French newspaper – In these conditions for Stellantis will not be easy to ensure the survival of all the brands in its portfolio (….) Maserati, the only luxury brand within Stellantis, can hope to find the means to bounce back ».
SCENARIOS AND INCOGNITE FOR STELLANTIS
The rest of the story is all to be written in the long-awaited industrial plan that number one, Carlos Tavares, is developing. A project much awaited by both the market and the trade unions, as the French newspaper L ' Usine nouvelle explains. «Stellantis will have to realize five billion euros of synergies without closing plants – specifies the French newspaper – Observers are impatient to know exactly how the group will achieve the cost reduction. Carlos Tavares has already put himself to the test in the matter with the record-time renovation of Psa and the integration of Opel-Vauxhall in just two years. Its success is even considered as an example for the new general manager of Renault, Luca De Meo ».
WHAT WILL THE ITALIAN STATE DO ON STELLANTIS?
Certainly the Tavares industrial plan will also clarify the prospects of the various plants. Including the Italians who, however, will not be able to count on a public partner as the French can. “After having opposed the marriage between Fiat and Renault, the French government has positively greeted the birth of Stellantis, together with the Italian executive. We will watch on both sides of the Alps on the moves of the new giant that "will equally contribute to industrial employment in Italy and in France" the French Minister of Economy, Bruno Le Maire, and his Italian counterpart Stefano Patuanelli had assured at the beginning of January – yes law on the La Provence site – To maintain control, Italy also wishes to enter the capital of Stellantis ».
THE REVERSE OF THE ITALIAN GOVERNMENT ACCORDING TO THE FRENCH PRESS
Or so the government initially imagined. But then something must not have gone right. So in the end only the French state chose this path by becoming a partner of the new car manufacturer with 6.2 percent through the French Bpifrancese of the French Cassa Depositi e Prestiti. Yet, on the issue of employment, «we must remain alert. "See you in a year!" as summarized in a statement by the Psa union delegate, Olivier Lefebvre. "Our confidence in the future will be accompanied throughout the year by adequate supervision of social and industrial policies" ».
As if to say that if cuts have to be made, they certainly won't be beyond the Alps.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/come-la-stampa-francese-vede-stellantis/ on Tue, 19 Jan 2021 09:10:19 +0000.