Stellantis may stop manufacturing cars in China as geopolitical tensions escalate and western manufacturers cede market share to domestic players.
The producer of Peugeot and Citroen cars may implement an "asset-light” strategy for those brands in the world’s largest auto market, Chief Executive Officer Carlos Tavares said Monday. Earlier this year, he used the same phrase to describe Stellantis’ decision to pull out from the company’s only Jeep plant in the country.
"If we push ahead with this strategy — which is our strategy right now — then we don’t need plants in China,” Tavares told reporters at the Paris car show, adding that the company could instead import vehicles made in Europe or the U.S. "I am not sure they are indispensable.”