Stellantis-owned Jeep has taken the decision to shut its only factory in China over increasing political concerns, said CEO Carlos Tavares. This follows an announcement that the SUV maker would be terminating its 12-year-long partnership with Guangzhou Automobile Group (GAC), a state-owned company that produced Jeeps for the Chinese market.
Speaking to Bloomberg, Tavares said, “We have been seeing over the last few years more and more political interference in the world of business in China.” He referred to other automotive brands that, in recent weeks, have suffered because of sanctions in countries such as Russia. “We don’t want to be a victim of cross-sanctions as has been the case for other companies in other regions of the world recently,” he added.
With the invasion of Ukraine still fresh in the minds of car companies, many fear what would happen should China apply similar tactics in Taiwan; the two countries have deep-rooted tensions that stretch back centuries.
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