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

Chinese company blames European partner for not fulfilling commitment

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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