The CEO of Stellantis Carlos Tavares
Stellantis aims to rise to 75% in jv with Gac Group in China
Stellantis swerves in Chinathe market from 1.4 billion inhabitants where the big world groups fight with a knife between their teeth to grab a growing demand for four-wheelers? At first glance it would seem a simple hiccup, surmountable by reconnecting the threads of dialogue with the now ten-year partners commercial from Guangzhou Automobile Group (Gac). Too bad for the operation he has in mind Carlos Tavares serve the green disk of the Chinese government, always very attentive to the prerogatives of the groups made in China.
THE AUTOMOTIVE CUTS/ Marelli announced 550 redundancies throughout Italy among employees and managers. You made it known to the trade unions in a meeting that took place via videoconference. On the same day that the group controlled by the Kkr fund revealed its intention to cut the cost of labor, Bosch communicated to Fiom, Fim and Uilm 700 redundancies in the next 5 years for the Bari plant, on a staff of 1,700 employees. |
Let’s rewind the tapes. In view of the launch on March 1st of Stellantis industrial first floor, within which the relaunch of business in Chinathe Portuguese top manager made the first move for rebalance presence in an area where Stellantis it is structurally late compared to the other main ones competitor. The group has announced its intention increase participationeven today at 50%in the joint venture In the Dragon with Gac which produces branded vehicles Jeeppartnership set up in March 2010 and where now the duo Tavares-Elkann wants rise to 75% of the capital.
The problem, accuse the allies of the Colossus of the Eastis that the two sides have not yet signed any formal agreementmore Gac that has criticized Stellantis for issuing a statement without his approval did know urbi et orbi to have learned of the will on site of the fourth world group born from the merger between Fiat-Chrysler and Peugeot only from the site corporate of partners.
From Stellantis, from which they did not provide financial details on the proposed deal, they replied that the transaction had already been agreedwhile the Chinese pointed out how Gac will strictly abide by the Chinese national policy and the procedures requests regarding the joint venture foreign and cooperation issues.
The announcement is a cornerstone of Stellantis’ plan to build new foundations for its business in Dragonwhere the group announced last September it would create a simplified operational organization “Stellantis Jeep” to develop the brand and to put the joint venture with Gac. A strategy focused on the production plant of Changsha which is currently preparing the launch of the model Compass.
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