(Finance) – Due to the lack of progress in the plan previously announced for the acquisition by Stellantis of a majority stake in the joint venture GAC-StellantisStellantis NV today announced its intention to focus on the distribution of imported products for the Jeep brand in Chinato exploit the potential of the brand and its iconic models through an “asset-light” approach.
Stellantis will collaborate with the GAC Group for a tidy one termination of the joint venture established in March 2010which in recent years has been at a loss, e will recognize a non-monetary devaluation charge of about 297 million euros in the results for the first half of 2022.