Stellantis Joint Venture in China Filing for Bankruptcy Due to Plunging Vehicle Sales, Company Says

Stellantis CEO Carlos Tavares poses following the presentation of the Jeep Avenger 4Xe Concept on the first day of the 2022 Paris auto show on Oct. 17, 2022. Eric Piermont/AFP via Getty Images

European carmaker Stellantis has announced that its joint venture (JV) in China is filing for bankruptcy following poor vehicle sales over the years.

The JV, which sold the Jeep Cherokee SUV and the Jeep Compass crossover SUV in China, saw sales decline significantly during the past year.