Stellantis to Sell China Automotive Assets After Jeep Move
- Peugeot maker in ‘asset-light’ strategy after falling short
- Stellantis halted China production of Jeep brand last year
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Stellantis NV will sell automotive assets to its Chinese partner Dongfeng Motor Group Co. Ltd. after the carmaker halted output of its Jeep brand in the country last year.
As part of the deal, Dongfeng Motor will acquire certain land use rights, buildings and structures in Wuhan and Xiangyang from Dongfeng Peugeot Citroën Automobile, its joint venture with Stellantis, according to a filing published Thursday. The sale will net Stellantis 1.71 billion yuan ($234 million).