The owner of Jeep signed a deal to acquire majority ownership of its Chinese joint venture, taking advantage of Beijing’s decision to loosen control of its auto industry amid fraying ties between China and the West.
Stellantis NV—which also owns the Chrysler, Peugeot and Fiat brands—will increase its stake in a partnership with China Guangzhou Automobile Group Co., Ltd. to 75% from 50%. Financial terms weren’t disclosed and the companies are still working on the details of the deal, which remains subject to the approval of the Chinese government.
