Could Stellantis bring in a partner for Europe?
According to insiders, Stellantis is exploring partnerships with financially strong Chinese companies to support its struggling European business. The shift would allow Stellantis to concentrate its investments on North and South America. Bloomberg reports that discussions have already taken place with Xiaomi and Xpeng to explore ‘options for an overhaul of Stellantis in Europe’—including, as the report suggests, the potential acquisition of stakes in Maserati or other brands. Stellantis’ European portfolio includes Fiat, Alfa Romeo, Citroën, Peugeot, DS and Opel.The talks have reportedly been ongoing for several months and could result in a Chinese manufacturer taking a stake in a European Stellantis unit, though the report does not provide further details. Stellantis’ considerations appear to be driven by the possibility to gain ‘access to advanced technology for electric vehicles and software,’ as stated in the article.However, Stellantis already has a Chinese partner in Leapmotor, and there have been reports suggesting that the existing partnership for distribution and production outside China may be expanded to include access to Leapmotor’s technology to enhance Stellantis’ European electric vehicles.It is well known that Stellantis is currently undergoing a strategic realignment under its new CEO, Antonio Filosa. In early February, Filosa announced a write-down of over 22 billion euros, primarily affecting its North American electric vehicle operations, which have been scaled back or discontinued due to market developments and the policies of US President Trump. This billion-euro write-down has also contributed to a significant loss for 2025.While there are overcapacities within the Stellantis production network, particularly among brands such as Fiat, Opel and Peugeot, the Italian premium brands are currently facing challenges. Rumours about the future of Maserati have emerged due to declining sales, despite significant investments in an increasingly electric model range. Such speculation has not yet extended to the volume brands.It remains unclear what the alleged discussions with Chinese competitors like Xpeng and Xiaomi have entailed. Bloomberg reports that the talks have also focused on ‘access to automaking capacity as Chinese groups seek to grow in Europe.’ Xiaomi currently manufactures exclusively in China, while Xpeng already produces its models for Europe at the contract manufacturer Magna in Graz.Acquiring a Stellantis plant in Europe could, under certain circumstances, provide a faster and more cost-effective way to establish their own production in the EU than building a new factory—even if the latter offers other advantages.Stellantis itself has been rather evasive in its statements. “As part of its normal course of business, Stellantis holds discussions with a range of industry players around the world on various topics, always with the ultimate aim of providing customers with the best mobility choices,” the carmaker told Bloomberg, adding that it does not comment on rumours. A spokesperson for Xpeng declined to comment, according to Bloomberg, and Xiaomi did not initially respond to inquiries.However, Stellantis did address one speculation: as Bloomberg’s analysis notes, the company’s European and US divisions have developed very differently in recent times. Bloomberg speculates that the ongoing realignment under CEO Antonio Filosa could ‘a further separation between the US and European arms’ —though Bloomberg itself acknowledges that a complete split is not planned.“Stellantis states in the most categoric terms that there is no truth in the suggestion that it is considering a plan to split the company,” the company said. “Any assertion to the contrary is pure invention.”One thing currently seems certain: any cooperation with one or more Chinese manufacturers will not extend to Stellantis’ North American brands. This is because the US, under President Trump, will effectively ban Chinese technology in connected vehicles on American roads from 2027. Additionally, high tariffs on electric vehicles and batteries make the use of Chinese technology economically unviable.bloomberg.com (Paywall), handelsblatt.com
