Stellantis is weighing arrangements with Chinese carmakers that could bring investment into its underperforming European operations as it prioritises spending in the Americas.
Sources cited by Bloomberg said Stellantis executives have met Xiaomi and XPeng to discuss ways to reshape the group’s European business.
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The talks have included scenarios in which the Chinese companies take stakes in assets such as Maserati or other units, while also gaining access to production capacity in Europe.
“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 company does not comment on speculations,” the automaker was quoted as saying in a statement.
A representative for Xpeng refused to comment. Requests for a comment from Xiaomi did not immediately elicit a response.
The discussions highlight differing outlooks between Stellantis’ European and US operations.
In North America, the group is investing about $13bn to update its vehicle range, while potential Chinese involvement in US activities is constrained by limits on Chinese technology in vehicles sold there.
Some sources said the restructuring work could ultimately increase the separation between Stellantis’ European and US businesses, although they stressed that a full split is not the current focus.
“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,” it said. “Any assertion to the contrary is pure invention.”
The conversations, described as ongoing for several months, have also covered the idea of taking a stake in a European Stellantis entity, but the sources warned there is no assurance any agreement will be reached.
Brands including Fiat, Opel and Peugeot are dealing with excess capacity, fierce competition and costly requirements linked to electrification.
For Chinese automakers, such deals could offer a stronger route into Europe at a time when a price war in China is increasing pressure at home.
Stellantis also has more room to work with Chinese groups in Europe, as the US is effectively barring Chinese technology in connected vehicles from 2027 and political resistance could complicate transactions.
The discussions come as Stellantis seeks to steady operations under CEO Antonio Filosa, appointed last year after cost-cutting measures affected quality and demand.
They follow last month’s announcement of €22.2bn ($25.46bn) in charges and write-downs tied largely to scaling back its EV plans, including cancelled battery ventures and future models.
