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Stellantis Business Folds In China With Huge Losses
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“Jeep stagnated.” That is the explanation given from within by those who worked in the joint venture between the Stellantis group and the Chinese manufacturer GAC. The alliance that once symbolized the dream of conquering the world’s largest automotive market ended up surpassed by its own partners. On July 8, GAC Fiat Chrysler Automobiles (GAC-FCA) officially applied for bankruptcy before the Changsha Intermediate People’s Court in Hunan provinc…
Stellantis Business Folds In China With Huge Losses
With this bankruptcy, Stellantis definitively turns the page on a part of its Asian strategy The CHINA joint venture which was created in 2011 by then Stellantis boss, Sergio Marchionne, was to enable the Fiat Chrysler business to conquer the world’s largest automobile market alongside Chinese automotive giant GAC Group (GAC is in Malaysia in partnership with Warisan TC). At the time, the ambitions were immense, imagine a 17 billion yuan in in…
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