Shaky start for Stellantis bid to grab larger China stake

KIFI

Published January 28, 2022 5:23 AM

By COLLEEN BARRY
AP Business Writer

MILAN (AP) — Moves by carmaker Stellantis to consolidate its position in fast-growing China seem to be off to a rocky start after one of its joint venture partners said it hadn’t been consulted before an announcement of plans to grab a controlling stake. Stellantis, formed a year ago from the merger of PSA Peugeot and Fiat Chrysler, has less than a 1% share in the 21-million vehicle Chinese market where it inherited two joint ventures. It plans to lay out its strategy March 1, but has offered some hints in announcements this week. That includes plans to increase its stake in GAC Stellantis from 50% to 75%.

Article Topic Follows: AP National Business

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