Afrigather By P.R. Venkat
A loss-making three way partnership between Stellantis NV and Guangzhou Vehicle Group Co. will file for chapter.
Stellantis will proceed offering providers to present and future Jeep model clients in China, in line with a press release by the corporate on Monday.
The plan to file for chapter has been accepted by the shareholders of the three way partnership, Stellantis stated.
Stellantis had impaired the worth of its funding within the three way partnership and different associated belongings in its first-half monetary outcomes.
In July, Stellantis stated that it was pulling out from the three way partnership and that it might as a substitute deal with promoting imported Jeep autos into China.
Stellantis is the guardian of auto manufacturers together with Jeep and Chrysler.
Write to P.R. Venkat at venkat.pr@wsj.com
