Stellantis and Ford said partnerships with both Chinese carmakers and traditional rivals were increasingly important for survival in a European market squeezed by high costs and weak demand.
“The concept of partnerships should . . . not be only Chinese,” Antonio Filosa, Stellantis chief executive, said at the FT’s Future of the Car Summit in London. “Chinese [carmakers] are strong players that are coming with a lot of power to Europe but . . . also we might look at others.”
Jim Baumbick, European head of Ford, said Chinese auto manufacturers’ “massive scale” was an advantage when exporting cars to Europe. “We have to find our own way in Europe to generate competitive scale. We believe doing that through partnerships is a way to compete,” he said at the summit.