Stellantis Implements Asset-light Approach to Grow Jeep® Brand in China and Negotiates Termination of Local Joint Venture with GAC Group

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• Stellantis will focus on supporting Jeep^® customers in China via electrified line-up of imported Jeep vehicles and experienced Chinese dealers
• Lack of progress in the previously announced plan for Stellantis to take a majority share in their joint venture led GAC Group and Stellantis to initiate discussions to terminate the joint venture that produces and distributes Jeep products in China
• Stellantis and GAC will proceed to an orderly termination of local Jeep production, while Stellantis will recognize a non-cash impairment charge of approximately €297 million in first half 2022 results
   

Amsterdam, July 18, 2022 − 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.
 

Für weitere Informationen kontaktieren Sie bitte:

Michael GÖNTGENS: +49 6142 692 3980 – michael.goentgens@stellantis.com
Nico SCHMIDT: +49 6142 692 4093 – nico.schmidt@stellantis.com
Harald SCHMIDT: +49 6142 692 3737 – harald.schmidt@stellantis.com

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