HONG KONG -- Stellantis said on Wednesday that it will pull out of its Chinese auto finance joint venture with state-owned Dongfeng Motor Group, the latest step in the overhaul of its operations in the world's largest auto market.
Stellantis will sell its effective half ownership in Dongfeng Peugeot Citroen Auto Finance to its Chinese partner for 3.72 billion yuan ($584 million). Pending approvals, Stellantis aims to complete the deal by year-end.
