Changan automobile drops its India entry plan as hurdles grow
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Changan had plans of investing over 500 million dollars in India and it had already engaged with consultancy firm EY for its India entry plans. The company had already scouted for a Greenfield facility in Tamil Nadu, Gujarat and even Telangana and it had even brought on board a local partner for distribution.
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To be sure, it is not Changan alone, but all Great Wall Motors expats visas which had expired had to head back to China even as it keeps the hope alive for its India entry.
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What workers need to know about the Fiat Chrysler-PSA merger
On Saturday, the merger between Fiat Chrysler Automobiles and PSA Group, the France-based maker of Peugeot, Opel and other major European vehicle brands, went into effect, establishing the new global automotive giant Stellantis.
The €43 billion ($53 billion) merger, first announced in 2019, will have far-reaching consequences throughout the auto industry and heralds an intensified assault on workers’ jobs internationally.
Stellantis becomes the fourth-largest automaker by sales volume, overtaking General Motors and Ford and trailing only Volkswagen, Toyota and the Renault-Nissan-Mitsubishi alliance. By operating profits, it is ranked third. Stellantis employs some 410,000, with operations in dozens of countries on virtually every continent.
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(Bloomberg) Stellantis NV, the newly-formed company from the merger between Fiat Chrysler Automobiles NV and PSA Group, has denied a local news report that it is in talks for a new merger with Chinese carmakers, Stellantis said Sunday in an emailed statement to Bloomberg News.
“Stellantis remains committed to its current joint venture partners Dongfeng Motor Corporation and Guangzhou Automotive Group,” it said.
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Local media Yicai reported earlier that Stellantis is in discussions to form a new venture with Chinese carmakers Chery Automobile Co. Ltd. and Guangzhou Automobile Group. Stellantis is planning to hold 75% of the shares in the venture, which will make a variety of vehicles, including energy efficient ones, according to Yicai, citing sources it didn’t identify.
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