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Jeep Pulls Out of China Over Government Meddling in Business

  • Stellantis CEO says he’s concerned about threat of sanctions
  • World’s top market is getting tougher for Western carmakers
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Stellantis NV shuttered its only Jeep factory in China because local politicians are increasingly meddling in the world’s biggest car market, Chief Executive Officer Carlos Tavares said Thursday.

The carmaker is implementing an “asset-light” strategy in the country out of concern that rising political tensions between China and the rest of the world could lead to economic sanctions, the CEO said in an interview with Bloomberg Television.