The global automotive group Stellantis is reportedly reviewing its investments in Europe and engaging in discussions with competitors about potential cooperation and brand stakes. While Stellantis denies rumors of a breakup, it does not refute the alleged search for partners.
According to insiders, Stellantis is exploring partnerships with financially strong Chinese companies to support its 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. Apart from Maserati, Stellantis’ European portfolio includes Fiat, Alfa Romeo, Lancia, Citroën, Peugeot, DS, and Opel/Vauxhall.
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 provides no further details. Stellantis’ considerations appear to be driven by the possibility of “gaining access to advanced technology for electric vehicles and software”, as stated in the article.
Stellantis already has a Chinese partner, Leapmotor, and reports suggest the existing distribution and production partnership 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, with the greatest focus on the American markets (north and south). 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 US President Trump’s policies. This billion-euro write-down has also contributed to a significant loss for 2025.
Chinese interest?
While there is overcapacity within the Stellantis production network, particularly among brands such as Fiat, Opel, and Peugeot, the Italian premium brands are currently facing even greater challenges. Rumors about the future of Maserati have emerged due to declining sales, despite significant investments in an increasingly electric model range. There are questions about the success of the Lancia relaunch, and on the French side, DS Automobiles seems to suffer too.
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, Austria.
Acquiring a Stellantis plant in Europe could, under certain circumstances, provide a faster and more cost-effective way to establish its own production in the EU than building a new factory, even if the latter offers other advantages.
New cooperation is possible, but no split
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 rumors.
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 U.S. divisions have developed very differently in recent times.
Bloomberg speculates that the ongoing realignment under CEO Antonio Filosa could lead to “a further separation between the U.S. and European arms”, though Bloomberg itself acknowledges that a complete split is not planned.
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 U.S., 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.
