Stellantis stepping back from China JV

China Economic Review | Apr 14, 2022 at 10:44 AM
  • Multinational automotive manufacturer Stellantis announced Wednesday it is pulling out of its Chinese auto finance joint venture (JV), the most recent move in the company’s reshaping of its Chinese operations, reports Nikkei Asia.
  • Stellantis will sell its effective half ownership in Dongfeng Peugeot Citroen Auto Finance to its Chinese partner, state-owned Dongfeng Motor Group for RMB 3.72 billion ($584 million).
  • The finance venture posted a net profit of RMB 305.21 million in 2021.