Stellantis to exit Jeep JV in China

[Oncorhynchus]

https://www.yahoo.com/finance/news/stellantis-end-jeep-production-china-093000526.html

~$300M charge to unwind the joint venture which has never been profitable since its inception in 2010.

Regarding such JV’s that most of the foreign car makers were forced to do, Admiral Akbar said it best, “it’s a trap!”

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[four low]

The take -away I get is that ICE is doomed in China, EV sales are way up. Stellantis intends to make EVs in China,and is recognizing this shift by unwinding ICE Jeep production.