Carlos Tavares wants to withdraw Stellantis from China

Carlos Tavares wants to withdraw Stellantis from China

China is almost over for Stellantis! At a time when the Chinese power is entering the final stages of its automotive strategy by launching its automotive brands to attack Europe, Stellantis, one of the oldest European players in China, is pulling out. “If we go to the end of our strategy, we won’t need factories in China,” insists Carlos Tavares bluntly. Stellantis “is currently in talks with its partner Dongfeng” about an industrial withdrawal of Peugeot and Citroën in the first world market, the general manager pointed out on Monday, October 17 at the Mondial de l’auto. “There are limits to a joint venture with companies that don’t respect what they signed and don’t succeed,” the leader, known for his openness, argues with some brutality, adding: “We don’t make any money in China.” .

At the end of July, Carlos Tavares warned of a “clear politicization of the business climate in China for four or five years”. He saw it as “the application of a 2010 Chinese Communist Party document. We are heading towards growing tensions between the western world and China. At some point there will be cross-sanctions that will put western societies in very difficult situations”. Carlos Tavares already sees the proof of this in car sales in the former Middle Kingdom: those of “German vehicles have fallen by 20%, American manufacturers by 19% , Japanese brands by 14%, while Chinese firms are increasing them by 11%!” This is the logic of the priority Beijing gives to national manufacturers, which the leader denounces. And this despite the fact that the Chinese government is taking advantage of European laxity to get involved own cars to initiate an upswing in a Union open to all winds.

Reference: www.challenges.fr

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