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<blockquote data-quote="Weather Man" data-source="post: 16837021" data-attributes="member: 137766"><p><h3><a href="https://seekingalpha.com/news/3897610-stellantis-china-joint-venture-to-file-for-bankruptcy?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">Stellantis’ China joint venture to file for bankruptcy</a></h3><p><a href="https://seekingalpha.com/symbol/STLA?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">STLA +0.15%</a>Oct. 31, 2022 6:13 AM ET<a href="https://seekingalpha.com/news/3897610-stellantis-china-joint-venture-to-file-for-bankruptcy?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments" target="_blank">1 Comment</a></p><p></p><ul> <li data-xf-list-type="ul">The shareholders of the GAC-FCA Joint Venture, Guangzhou Automobile Group Co., Ltd. and Stellantis N.V. (NYSE:<a href="https://seekingalpha.com/symbol/STLA" target="_blank">STLA</a>) will file for <a href="https://seekingalpha.com/pr/18996849-gac-fca-joint-venture-to-file-for-bankruptcy" target="_blank">bankruptcy</a> to reverse its dwindling sales in the country.</li> <li data-xf-list-type="ul">An unprofitable joint venture that made and distributed the Jeep brand in China would continue to provide services to existing and future Jeep brand customers in China.</li> <li data-xf-list-type="ul">Stellantis had booked a noncash impairment charge of equivalent to almost $300M in its first-half results as a result of ending the JV.</li> <li data-xf-list-type="ul">The JV was first formed in 2010 in a 50-50 split between GAC and Fiat SpA. Fiat became part of Stellantis following a merger with the French PSA Group.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16837021, member: 137766"] [HEADING=2][URL='https://seekingalpha.com/news/3897610-stellantis-china-joint-venture-to-file-for-bankruptcy?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']Stellantis’ China joint venture to file for bankruptcy[/URL][/HEADING] [URL='https://seekingalpha.com/symbol/STLA?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']STLA +0.15%[/URL]Oct. 31, 2022 6:13 AM ET[URL='https://seekingalpha.com/news/3897610-stellantis-china-joint-venture-to-file-for-bankruptcy?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments']1 Comment[/URL] [LIST] [*]The shareholders of the GAC-FCA Joint Venture, Guangzhou Automobile Group Co., Ltd. and Stellantis N.V. (NYSE:[URL='https://seekingalpha.com/symbol/STLA']STLA[/URL]) will file for [URL='https://seekingalpha.com/pr/18996849-gac-fca-joint-venture-to-file-for-bankruptcy']bankruptcy[/URL] to reverse its dwindling sales in the country. [*]An unprofitable joint venture that made and distributed the Jeep brand in China would continue to provide services to existing and future Jeep brand customers in China. [*]Stellantis had booked a noncash impairment charge of equivalent to almost $300M in its first-half results as a result of ending the JV. [*]The JV was first formed in 2010 in a 50-50 split between GAC and Fiat SpA. Fiat became part of Stellantis following a merger with the French PSA Group. [/LIST] [/QUOTE]
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