HONG KONG -- The CEO of Stellantis, the fourth-largest global automaker by volume, has blamed the company's decision to end its key joint venture in China on a "breach of trust" by partner Guangzhou Automobile Group (GAC).
Carlos Tavares, speaking Thursday at an online briefing covering Stellantis' first-half results, also characterized a new company strategy to go "asset light" by axing factories and relying on imports as a way to protect it from the intensifying political tensions between the West and China.
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)