Stellantis To Increase Stake In Chinese GAC Venture To 70% | Carscoops carscoops
. “This announcement is not approved by us, and GAC Group deeply regrets it.” The company added that it will “strictly abide by national policies and regulations” and promote the venture “in accordance with the principals of mutual trust and win-win results.”
Recent changes made in China mean foreign car manufacturers no longer need to operate 50-50 joint venture partnerships in the country. These changes have already seen BMW increase its share in its Brilliance joint venture while Daimler recently announced it willStellantis will reveal a new global strategic plan on March 1 and analysts hope that it will reveal how the company plans to grow its presence throughout China.
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