Stellantis withdrew Jeep from China over government interference

Carlos Tavares, CEO of the car company Stellantis, gave as the reason for the withdrawal of the Jeep brand over possible government interference in its business, Bloomberg reports. He stated that the company wanted to break away from the Chinese market to avoid becoming a victim of political tensions. Tavares cited punitive measures against Western companies in particular as a possible scenario. „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.“