January 27, 2022
Stellantis Plans to Take Majority Share in Joint Venture with GAC in China
Change possible thanks to new regulatory framework allowing additional foreign investment in existing JVs, starting from January 2022
Stellantis and GAC Group will continue cooperating to develop the Jeep® Brand’s successful business potential in China
First key step to rationalize China operations, as part of the Company’s strategic plan to be announced on March 1
AMSTERDAM - Stellantis N.V. today announced the plan to increase its shareholding in GAC-Stellantis from 50% to 75%. The announcement is a key element of Stellantis’ plan to set a new basis for its business in China. GAC Group and Stellantis have agreed to collaboratively complete the relevant formalities of the deal, which remains subject to the approval of the Chinese government.
GAC-Stellantis is a joint venture formed between China Guangzhou Automobile Group Co., Ltd. (GAC Group) and Stellantis in March 2010.
In September 2021, Stellantis announced that it would create a simplified operating organization “Stellantis Jeep” to develop the brand in China. The JV is now fit to support the efficiency of this integrated “One Jeep” strategy in China, focused on the Changsha manufacturing plant, which is currently preparing to launch the Compass model. GAC Group and Stellantis will continue collaborating closely with each other to grow the brand’s profitable business in China.
Additional details on Stellantis’ plan for the Chinese market will be announced within the global strategic plan on March 1, 2022.
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.
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