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Automobiles

GAC denies Stellantis 'breach of trust' claim over failed JV

Chinese company blames European partner for not fulfilling commitment

A Jeep booth at the Auto Guangzhou 2021. The GAC-Stellantis joint venture mainly assembled Jeep vehicles.   © Getty Images

HONG KONG -- Guangzhou Automobile Group (GAC) has hit back against recent remarks made by the CEO of longtime partner Stellantis, Carlos Tavares, who said its recent decision to terminate a loss-making joint venture was due to a "breach of trust" on the Chinese side. 

In an emailed statement received by Nikkei Asia on Tuesday, a GAC spokesperson said the company was "deeply shocked" by the comments made by Tavares on Thursday, laying virtually all the blame for the alliance's breakup on the Chinese company.

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