Jeep's Chinese joint-venture files for bankruptcy. Jeep CarGuidePH
In the following days, GAC criticized Stellantis and said it was “deeply shocked” by comments from the European automaker about the end of their joint venture in China.
Foreign automakers saw their share of China’s auto market, now the world’s largest, drop by 5.5 percentage points last year, to 45.6 percent, according to the China Passenger Car Association. “The JV policy was originally designed to compel foreign brands to share their brands and technology with local Chinese in exchange for access to China’s large, growing auto market,” he said.
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