Opel parent acquires majority stake in joint venture

Opel parent company Stellantis is looking to make headway in the Chinese market by acquiring a majority stake in its joint venture GAC-Stellantis. Stellantis will increase its 50 percent stake to 75 percent, the carmaker merger between Peugeot and Fiat Chrysler announced on Thursday. The Chinese government still has to approve the deal. Details of Stellantis’ plan for the Chinese market are to be announced as part of its global strategic plan on March 1.