Stellantis Terminates Joint Venture With GAC In China, Will Start Importing Jeeps Instead | Carscoops carscoops
, a Stellantis spokesperson said: “We came to the conclusion that it was better to close the joint venture”, describing it as a money-losing business. Despite the termination, Stellantis will still operate in China through its dealer network, selling imported instead of locally-produced Jeeps. More specifically, Stellantis said: “The Jeep brand will continue to strengthen its product offering in China with an enhanced electrified line-up of imported vehicles”.
Stellantis hopes that strategic changes in its joint ventures will help it increase its share in the Chinese market which is currently below 1 percent. As part of the “” plan announced in March 2022, Stellantis announced it would adopt an “asset-light” business model in China, aiming for a revenue of €20 billion by 2030. This figure sounds ambitious judging from the €3.9 billion turnover in 2021 from China, India, and Asia-Pacific regions.
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