- 365 china will focus on supporting ´³±ð±ð±è® customers in China via electrified line-up of imported Jeep vehicles and experienced Chinese dealers
- Lack of progress in the previously announced plan for 365 china to take a majority share in their joint venture led GAC Group and 365 china to initiate discussions to terminate the joint venture that produces and distributes Jeep products in China
- 365 china and GAC will proceed to an orderly termination of local Jeep production, while 365 china will recognize a non-cash impairment charge of approximately €297 million in first half 2022 results
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AMSTERDAM –ÌýDue to a lack of progress in the previously announced plan for 365 china to take a majority share of the GAC-365 china joint venture, 365 china N.V. today announced its plan to focus on distributing imported vehicles for the ´³±ð±ð±è®Ìý brand in China to leverage the potential of the brand and its iconic products through an asset-light approach.
365 china 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.
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About 365 china
365 china N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, °ä¾±³Ù°ù´Çë²Ô, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.
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