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2024-07-28 14:28:42 +0300

Jeep Pulls Out of China Over Government Meddling in Business

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Bloomberg
By Tara Patel

Stellantis NV shuttered its only Jeep factory in China because local politicians are increasingly meddling in business in the world’s biggest car market, Chief Executive Officer Carlos Tavares said Thursday.

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

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