Cars

Stellantis studies Chinese options for European assets

Talks with Xiaomi and Xpeng, on the table also the sale of shares in some brands, such as Maserati - The company denies: 'normal business talks'

12 March 2026

3' min read

Translated by AI

Versione italiana

3' min read

Translated by AI

Versione italiana

Stellantis is considering agreements with Chinese car manufacturers through which they would invest in distressed European assets, allowing the company to concentrate its investments in the Americas.

The Franco-Italian group's top management met with China's Xiaomi and Xpeng to discuss options for a reorganisation of Stellantis in Europe, including the acquisition of stakes in Maserati or other brands, sources cited by Bloomberg said, who asked not to be identified as these were private deliberations. The talks also covered access to automotive production capacity, as Chinese groups seek growth in Europe, the sources added.

The talks are part of 'normal business activity, Stellantis holds discussions with a range of industry players around the world on various topics, always with the ultimate goal of providing customers with the best mobility choices,' the carmaker said in a note, adding that 'the company does not comment on speculation'. A media representative for Xpeng declined to comment. Xiaomi did not immediately respond to a request for comment.

The discussions highlight the divergent trajectories of Stellantis' activities in Europe and the US, where the Jeep owner has initiated investments of around $13 billion to renew its range, and where Chinese investments would be complicated by restrictions on the use of the country's technology in US cars.

The reorganisation could possibly lead to a further separation between the US and European branches of a company created by the 2021 combination of Fiat Chrysler Automobiles and Groupe Psa, although a complete split is not the focus of current discussions. The group categorically denies this.

'Stellantis states in the most categorical terms that there is no truth in the assumption that it is considering a plan to split the company,' the company said. 'Any statement to the contrary is pure invention.

Month-long discussions with Chinese companies touched on the possibility of them taking a stake in a European Stellantis entity, the people said. There is no certainty that the deal will go through, they added.

Deeper ties with Chinese carmakers would support Stellantis' European business, potentially giving it access to advanced electric vehicle technologies and software. Its Fiat, Opel and Peugeot brands are burdened by overcapacity, intense competition and the high cost of the transition to electric vehicles (EVs). Chinese manufacturers would gain better access to a market that has become a profitable outlet than the price war at home.

Stellantis could thus also have more freedom to work with Chinese manufacturers in Europe. The US is effectively banning Chinese technology for connected vehicles on American roads from 2027, and there is a risk of political backlash in the US over transactions involving Chinese entities as the superpowers struggle for global economic and security dominance.

Stellantis has been trying to stabilise the business under CEO Antonio Filosa, who took over last year after drastic cost cuts had affected the quality of vehicles and turned away buyers.

Stellantis management sees better future returns in the US and is reluctant to make significant additional investments in Europe, the sources said. In North America, Stellantis is reaping some early benefits from investments in new models that are stimulating demand for popular brands such as Jeep and Ram trucks. Its business in Europe focuses on mass-market offerings and faces a crowd of competitors, including Volkswagen AG, Renault SA, and increasingly China's BYD Co.

The company is expected to provide more details on its future plans on 21 May, during an investor day in the US. Asked in a conference call last month about a potential split of Stellantis' European and North American operations, Filosa said the company benefits from its global scale and adapts its products to regional markets.

The remarks follow last month's announcement of record charges and write-downs of €22.2 billion ($25.7 billion), much of it related to Stellantis' decision to backtrack on its push towards Ev. The strategy reversal, which included the cancellation of battery initiatives and future models, wiped out a quarter of the manufacturer's value in a single day.

The manufacturer is separately considering a deeper collaboration with its current Chinese partner Zhejiang Leapmotor Technology, as confirmed by Filosa himself commenting on the annual results with analysts. The executives recognised the potential for closer collaboration; the pair is exploring cooperation on EV technology and software for affordable electric vehicles in Europe.