Stellantis says Jeep joint venture in China to file for bankruptcy
Publishing timestamp: 2022-10-31 05:35:29
Summary
Stellantis and Guangzhou Automobile Group's joint venture producing Jeep vehicles in China is filing for bankruptcy after a lengthy decline. Sales have been sharply decreasing for the past four years, and the termination of the venture has caused tension between the two companies. Foreign automakers in China are facing growing pressure, and the joint-venture model is under threat as Chinese automakers become more confident in their abilities.
Sentiment: NEGATIVE
Keywords: autos, business news, stellantis nv, guangzhou automobile group co ltd, transportation,