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Stellantis implements asset-light approach to grow Jeep® brand in China and negotiates termination of local joint venture with GAC Group

Stellantis will focus on supporting Jeep® customers in China via electrified line-up of imported Jeep vehicles and experienced Chinese dealers

Due to a lack of progress in the previously announced plan for Stellantis to take a majority share of the GAC-Stellantis joint venture, Stellantis N.V. today announced its plan to focus on distributing imported vehicles for the Jeep®  brand in China to leverage the potential of the brand and its iconic products through an asset-light approach.

Stellantis intends to cooperate with GAC Group in an orderly termination of the joint venture formed in March 2010, which has been loss-making in recent years, and will recognize a non-cash impairment charge of approximately €297 million in its first half 2022 results.

The Jeep brand will continue to strengthen its product offering in China with an enhanced electrified line-up of imported vehicles meant to exceed Chinese customer expectations.

SOURCE: Stellantis

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