Jeep owner Stellantis to invest in Chinese Venture

The automotive manufacturing corporation, Stellantis to take a majority stake in a Chinese business. This Amsterdam based company has some prominent brands under its name apart from Jeep such as Chrysler, Peugeot, Fiat, Dodge etc. Stellantis will increase its ownership by 25% in a partnership with Guangzhou Automobile Group from 50% that will eventually amount to 75% stake. Stellantis a newly formed group by merging the Italian-American conglomerate Fiat Chrysler Automobiles and the French PSA Group in 2021, is actively looking for investment options since its inception. This business deals comes after Beijing decision to ease rule on foreign investment. The announcement of this acquisition was made but with no financial terms disclosed and are in progress to work on details followed by the approval of Chinese Government. The decision to ease foreign investment in China followed by this deal might ease some tension prevailing between the West and the Dragon.