On May 15, The Financial Times reported that Stellantis, the parent company of Jeep, sounded the alarm that Chinese automakers are closing in on the final market stronghold of foreign brands like Volkswagen and Toyota, raising concerns about the future of Western brands in China. The Chief Operating Officer responsible for Asia-Pacific and other regions at Stellantis noted that it has become exceedingly challenging for Western automakers to preserve their market share in the Chinese market.
