In recent years, the company has faced a lot of political interference in the Chinese market.
The automotive corporation Stellantis, which owns the brands Peugeot, Opel, Chrysler, Citroën, FIAT and others, fearing possible sanctions, refused to jointly produce Jeep vehicles in China. The company’s chief executive officer, Carlos Tavares, spoke about this in an interview with Bloomberg.
Tavares noted that in recent years, the company has faced many cases of political interference in business activities in the Chinese market.
“We don’t want to be a victim of mutual sanctions, as happened recently with other companies in other parts of the world,” he explained.
The plant of the concern worked in China for 12 years, its closure was announced on July 18.
Stellantis previously said that a joint venture with the Chinese Guangzhou Automobile Group, created in 2021, was not profitable.
Stellantis called “lack of progress” in recent years as the formal reason for ending the cooperation.
Recall that in April, due to sanctions, the Stellantis automaker stopped its plant in Russia.
As reported, in January last year, Fiat Chrysler and PSA merged into one of the largest automakers in the world – Stellantis.
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Source: korrespondent
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