This move comes as a result of new regulatory framework allowing additional foreign investment in existing JVs from January 2022 in China.

GAC Group and Stellantis have agreed to collaboratively complete the relevant formalities of the deal, which remains subject to the approval of the Chinese government.

GAC-Stellantis is a joint venture formed between China Guangzhou Automobile Group Co. Ltd. (GAC Group) and Stellantis in March 2010.