We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Stellantis NV | NYSE:STLA | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.42 | 1.95% | 21.97 | 22.06 | 21.765 | 21.89 | 9,286,122 | 01:00:00 |
From May 2022 to May 2024
By Cristina Roca
Stellantis NV said Monday that it will end the joint venture that makes and distributes its Jeep brand in China and focus on selling imported Jeep cars in the country.
The Amsterdam-based car maker said the reason is that it hasn't made progress in its plan to take a majority share in the joint venture with China's Guangzhou Automobile Group Co.
"Stellantis 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," it said.
It will book a non-cash impairment charge of about 297 million euros ($299.6 million) in its first-half results as a result.
In January, Stellantis said it was planning to up its stake in GAC-Stellantis to 75% from 50% after a regulatory change made additional foreign investment in local joint ventures possible.
Stellantis said it will take an asset-light approach to the brand in China by focusing on selling imported Jeep cars.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
July 18, 2022 02:39 ET (06:39 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
1 Year Stellantis NV Chart |
1 Month Stellantis NV Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
