Stellantis aims at the Chinese market: it wants the majority in the joint venture with GAC

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Waiting for the 1 & deg; March when we will finally be able to discover the new industrial plan of Stellantis in its entirety, the automotive group has announced a novelty; very important that it will surely be & agrave; thorough in the future. Stellantis intends to take control of the Chinese joint venture set up with GAC . The Group wants to go from the current 50% to 75%. A move possible thanks to China's new regulatory framework that allows further foreign investment in existing joint ventures, starting in January 2022.

This is a novelty; very important which highlights as the China market is very important to Stellantis. Moreover Tavares, at the time of the merger between FCA and PSA, had underlined the importance of returning to being competitive in this country. The announcement, therefore, represents a fundamental element of Stellantis' plan for the construction of new foundations for its business; on the Chinese market.

It is clear that this is only a first step of a much more; articulated. The automotive group announces that it will collaborate with GAC to complete the formalities; of the agreement, which remains subject to the approval of the Chinese government. The GAC-Stellantis joint venture was formalized in 2010, at the time with Fiat.

Stellantis recalls that in September 2021 it announced that it would create a & # 39; simplified operating organization & quot; Stellantis Jeep & quot; to develop the brand in China.

The joint venture is; now able to support the efficiency of this integrated strategy & ldquo; One Jeep & rdquo; in China, focused on the Changsha manufacturing plant which is currently preparing the launch of the Compass model. GAC Group and Stellantis will continue to collaborate closely with each other to grow the business; profitable of the brand in China.

The plan that Stellantis will present the 1 & deg; March will be certainly very articulated and will represent; the basis for the relaunch and growth of all its brands. We already know some aspects, especially those related to electrification and software development.

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