Stellantis seeks to buy majority of FCA Chinese JV while closing a plant

[AlexB]

Stellantis NV is poised to roll out a new strategy for China, with the first major step being to take control of its struggling Jeep joint venture from a domestic partner, according to people familiar with the matter.

The automaker formed from the merger between Fiat Chrysler and PSA Group is in advanced discussions with state-owned partner Guangzhou Automobile Group Co. on raising its stake in the 50-50 venture overseeing its Jeep operations in China, said the people, who asked not to be named because the discussions aren’t public.

Stellantis is trying to align its production with disappointing levels of demand in China, outlining in a statement last week a plan to integrate Jeep import operations into the JV and centralize production in Changsha. One of the people said the venture’s second plant in Guangdong would be closed.

Jeep Venture Takeover Push Kicks Off Stellantis’s China Reboot

Stellantis NV is poised to roll out a new strategy for China, with the first major step being to take control of its struggling Jeep joint venture from a domestic partner, according to people familiar with the matter.

www.bloomberg.com

 

[TripleT]

taking a bit back from Dealers I see