Stellantis plans to take a majority stake in a joint venture with GAC in China

Stellantis Plans to take a majority share in Joint venture with GAC in China

  • Possible change thanks to new regulatory framework allowing additional foreign investments in existing JVs, from January 2022

  • Stellantis and GAC Group will continue to cooperate to develop the Jeep® Brandit is to success business potential in China

  • First key step at streamline China operations, as part of Business the strategic plan will be announced on March 1

AMSTERDAM, January 27, 2022 – Stellantide NV today announced plans to increase its stake in GAC-Stellantis from 50% to 75%. This announcement is a key part of Stellantis’ plan to establish a new base for its business in China. GAC Group and Stellantis have agreed to jointly complete the relevant formalities of the agreement, which remains subject to the approval of the Chinese government.

GAC-Stellantis is a joint venture formed between China Guangzhou Automobile Group Co., Ltd. (GAC Group) and Stellantis in March 2010.

In September 2021, Stellantis announced that it would create a simplified operational organization “Stellantis Jeep” to develop the brand in China. The JV is now able to support the effectiveness of this integrated “One Jeep” strategy in China, centered on the Changsha manufacturing plant, which is currently preparing the launch of the Compass model. GAC Group and Stellantis will continue to work closely together to develop the brand’s profitable business in China.

Additional details of Stellantis’ plan for the Chinese market will be announced in the Global Strategic Plan on March 1, 2022.

About Stellantis

Stellantis NV (NYSE / MTA / Euronext Paris: STLA) is one of the global playerss leading car manufacturers and a mobility provider. His historic and iconic brands embody the passion of their visionary founders and todays customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroen, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Opel, Free2move and Leasys. Empowered by our diversity, we are leading the way for the world – aspiring to be the biggest sustainable mobility technology company, not the biggest, while creating value for all stakeholders as well as the communities in which it operates. operates. For more information visit www.stellantis.com.

@Stellantis

Stellantide

Stellantide

Stellantide

For more information, contact:

Chao Wang[email protected]

[email protected]
www.stellantis.com

FORWARD-LOOKING STATEMENTS

This communication contains forward-looking statements. In particular, statements regarding future events and expected results of operations, business strategies, anticipated benefits of the proposed transaction, future financial and operating results, the expected closing date of the proposed transaction and other anticipated aspects of our operations or results of operations are forward-looking statements. These statements may include terms such as can, will be, wait, could, should, intend, estimate, to anticipate, to believe, to stay, on the right track, design, target, goal, goal, provide, projection, outlook, outlook, plan, or similar terms. Forward-looking statements are not guarantees of future performance. On the contrary, they are based on Stellantis current state of knowledge, future expectations and projections of future events and are, by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances which may or may not occur or exist in the future and as such should not be unduly relied upon.

Actual results may differ materially from those expressed in forward-looking statements due to a variety of factors, including: the impact of the COVID-19 pandemic, Stellantis’ ability to successfully launch new products and maintain sales volumes. vehicle dispatch; changes in global financial markets, the general economic environment and changes in demand for automotive products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and the imposition of global and regional tariffs or targeted tariffs on the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations ; Stellantide ability to expand some of their brands globally; its ability to offer innovative and attractive products; its ability to develop, manufacture and sell vehicles with advanced features, including enhanced electrification, connectivity and self-driving features; various types of claims, lawsuits, government investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; significant operating expenses related to compliance with environmental, health and safety regulations; the level of intense competition in the automotive industry, which may increase due to consolidation; exposure to Stellantis funding shortfalls defined benefit pension plans; the ability to provide or arrange access to adequate financing for dealers and retail customers and the associated risks associated with the formation and operations of financial services companies; the ability to access funding to run Stellantis business plans and improve its business, financial condition and results of operations; a significant malfunction, disruption or breach of security compromising the computer systems or electronic control systems contained in Stellantis vehicles; Stellantide the ability to realize the anticipated benefits of joint venture arrangements; disruptions resulting from political, social and economic instability; risks associated with our relationships with employees, dealers and suppliers; cost increases, supply disruptions or shortages of raw materials, parts, components and systems used in Stellantis vehicles; changes in labor relations and industrial relations and changes in applicable labor legislation; exchange rate fluctuations, changes in interest rates, credit risk and other market risks; political and civil unrest; earthquakes or other disasters; and other risks and uncertainties.

All forward-looking statements contained in this communication speak only as of the date of this document, and Stellantis disclaims any obligation to publicly update or revise any forward-looking statements. Additional Information Regarding Stellantis and Its Business, Including Factors That Could Materially Affect Stellantis financial results, is included in Stellantis reports and filings with the United States Securities and Exchange Commission and AFM.

Attachment

About Emilie Brandow

Check Also

Global debt levels increased “substantially” in 2021

By Andrea Shalal WASHINGTON (Reuters) – Debt levels in low- and middle-income countries rose sharply …