BEIJING -- Stellantis' Chinese venture with GAC will close one of its two factories in China by next March, GAC told Reuters, as Stellantis restructures operations in the world's biggest auto market where it has struggled to sell cars.
The joint venture, which has capacity to make 328,000 vehicles a year, sold only 12,288 in the first seven months this year, all Jeep-branded utility vehicles.
It will transfer production from Guangzhou to Changsha to "increase (the) utilization rate of plants and lower cost", GAC said in a statement. The Changsha factory has capacity to make 164,000 vehicles a year, still far more than the venture sells.