Stellantis Announces Termination of Jeep Venture With China's GAC

Paris (Usnewspress) - Stelantis on Monday announced the "gradual termination" of its joint venture with Chinese partner GAC,

Which has been producing Jeep vehicles since 2010, but has been making losses in recent years.

The carmaker said Stelantis will recognize a non-cash impairment charge of 

approximately 297 million euros ($299.5 million) for the results for the first half of 2022.

"The Jeep brand will continue to strengthen its product offering in China, 

with its electrified line-up of imported vehicles exceeding Chinese customers' expectations," Stelantis said. ($1 = 0.9918 Euro)