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.
This means that as the global giants Volkswagen, Ford and GM work to bring more EV models to market, they face stiff competition from younger Chinese rivals that have adapted quickly to shifting consumer tastes.
Volkswagen said in a statement that China has been in a "special situation" due to the pandemic, the global semiconductor shortage and the "accelerated transformation towards electric mobility" that has affected production capacities across the industry. Automobility's Russo said that over the years, Chrysler, Fiat and Peugeot - which are all part of Stellantis, and all had their own Chinese joint ventures - had struggled before they became part of the same car group.
"Stellantis is a canary in the coal mine," Dunne said. "Forever, the foreign brands were the favoured sons in China.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jeep Wrangler Unlimited High Tide special edition returns for 2023 - AutoblogJeep hit the beach in 2022 with the Wrangler Unlimited High Tide special edition. Jeep told dealers the High Tide will carry on into the 2023 model year.
Read more »
Jeep opens Name the New Wagoneer contest - AutoblogJeep has opened a contest called Name the New Wagoneer, and you could win a $40,000 ski trip. Here's how to submit an entry.
Read more »
Jeep Avenger review | AutocarREVIEW: The long-awaited all-electric Jeep Avenger lead's the firm's EV plans in Europe ⚡ Does it live up to expectations? Autocar's verdict is in...
Read more »
Jeep Avenger (2022) review: baby e-SUV drivenWe've driven the new Jeep Avenger, an all-electric baby SUV designed, engineered and built in Europe. 'A stepchange,' says CARPhilMc. 'Refined to drive, pleasant to sit in and delivers all Jeep’s trademark appeal in a bonsai package' ⚡️🏔️
Read more »
US bans Huawei, ZTE equipment sales amid Chinese spying fears | CNNThe Biden administration has banned approvals of new telecommunications equipment from China's Huawei Technologies and ZTE because they pose 'an unacceptable risk' to US national security.
Read more »
US FCC bans sales, import of Chinese tech from Huawei, ZTEIt's the latest in a years-long escalation of U.S. restrictions of Chinese technology that began with President Donald Trump and has continued under President Joe Biden.
Read more »