On November 1st, Stellantis Group issued a notice of management change in China. Since November 1st, Gr é goire Olivier, former chief operating officer of Stellantis Group in China, served as the general manager and executive vice president of "Stellantis Group-Zero Technology Strategic Alliance Office" of Stellantis Group, and reported to Carlos Tavares, global CEO of Stellantis Group. At the same time, Olivier will also serve as a director of Zero running Technology Co., Ltd. (hereinafter referred to as "Zero Motor").
Olivier (Gr é goire Olivier)
Stellantis Group said that Olivier will ensure the efficient promotion and implementation of the strategic partnership between Stellantis Group and Zero Automobile, including the establishment of a sales joint venture between the two sides and the coordination of projects such as the use of Stellantis Group's global distribution channels.
Douglas Ostermann will succeed Olivier as the chief operating officer of Stellantis Group in China and report to Tang Weishi, global CEO of Stellantis Group. At the same time, Douglas will also serve as a director of Zero Technology Co., Ltd. According to reports, prior to this appointment, Douglas held the position of Chief Financial Officer of Stellantis Group in China and Senior Vice President of Strategic Planning in charge of the Chinese market.
On Oct. 26, Zero announced a strategic cooperation agreement with Stellantis Group, which invested about 1.5 billion euros (11.6 billion yuan) to acquire a 20% stake in Zero. After the conclusion of the cooperation, the board of directors of Zero Automobile will be expanded to nine members, of which Stellantis Group will occupy two board seats and Zero Motor will occupy seven seats. In addition, the two sides will also set up a "zero running international" joint venture with a share ratio of 51:49, and CEO will be appointed by the Stellantis Group.
It should be noted that unlike Volkswagen's previous investment in Xiaopeng to boost the competitiveness of products in the Chinese market, Stellantis's acquisition of a stake in Zero Automobile is that Stellantis's cooperation with Zero Automobile focuses more on the international market outside the Greater China region. In addition to Greater China, the joint venture also has the right to export and sell to all other markets around the world and to manufacture zero-running car products locally.
Wu Qiang, co-president of Zero Automobile, said in an interview with the media that the Zero International joint venture will be registered in Europe as an exclusive player and entity in overseas markets, and is expected to start delivering products in overseas markets in the middle of next year, but the products sold by the company are limited to cars of Zero brands and do not involve any fuel vehicles and electric vehicles of Stellantis Group's 14 fuel brands. According to the plan, Zero International will launch 2-3 products overseas in 2024, and the overseas product matrix will reach 10-11 by 2025-2026.
Data show that Stellantis is the fourth largest automotive group in the world, with 14 auto brands covering different market segments, such as Alfa Romeo, Maserati, Fiat, logo and Citroen. According to the original plan, Stellantis Group's product strategy was to convert existing best-selling fuel vehicles into plug-in hybrids, but the "oil-to-electric" models did not perform well in the car market. Data show that Stellantis pure trams sold 169000 units in the first half of this year. For comparison, Volkswagen sold 321600 pure trams worldwide.
On this appointment, Tang Weishi, global CEO of Stellantis Group, said: "in order to ensure the perfect implementation of the recently announced Zero strategic cooperation project and the continued expansion of the Group's other business in China, we have decided to adjust the group's management structure in China, and we will rely on these two experienced senior managers to improve the group's overall business performance in China. Over the past two years, Olivier and Douglas have worked closely together to build a new strategy for Stellantis Group in China and opened up a new path for our business development. I believe they will inject new impetus into their new roles. "
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