MILAN (Reuters) – Carmaker Stellantis plans to increase its stake in its joint venture with Guangzhou Automobile Group (GAC) in China to 75% from 50% to set new grounds for business in the Asian market, it said in a statement on Thursday.
The deal remains subject to approval by the Chinese government.
Additional details on Stellantis’ plan for the Chinese market will be disclosed as part of its global strategic plan to be presented on March 1.
(Reporting by Agnieszka Flak, editing by Giulia Segreti)
