The bankruptcy of Stellantis' Jeep joint venture in China could spell trouble for other global automakers whose output has plunged over the last five years in the world's largest car market, as domestic players rapidly overtake. The first joint venture failure by a foreign brand in the electric vehicle (EV) era, the Oct. 31 bankruptcy filing marks a turning point in that Chinese carmakers are beginning to surpass the long-dominant international brands in giving consumers what they want. "I do not expect Stellantis to be an isolated case," said Marco Santino, a partner at management consultants Oliver Wyman.
Franco-Italian carmaker Stellantis said on Thursday it would reorganise its European dealers' network in July next year, starting from Austria, Belgium, Luxembourg and the Netherlands. "The rest of Europe will progressively follow in the implementation of the new distribution scheme", the group born from the merger of Fiat Chrysler and France's PSA said in a statement. As part of its efforts to cut costs and support investment for electrification, Stellantis last year said it would end all current sales and services contracts with European dealers for all of its 14 brands, from June 2023.
NEW DELHI (Reuters) -Fiat parent Stellantis has concluded it can't currently make affordable electric vehicles (EVs) in Europe and is looking at lower-cost manufacturing in markets such as India, its chief executive told reporters. If India, with its low-cost supplier base, is able to meet the company's quality and cost targets by the end of 2023, it could open the door to exporting EVs to other markets, said Carlos Tavares, CEO of the group whose brands also include Peugeot and Chrysler.