Stellantis is reportedly evaluating agreements with Chinese car manufacturers, in particular Xiaomi and Xpeng, which could invest in the group’s European activities. In exchange, they could obtain shares in historic brands such as Maserati or access to production plants on the Old Continent.
The indiscretions, launched by the Bloomberg agency, describe an Italian-French-American group at a strategic crossroads: between an increasingly difficult Europe and an America on which hopes for a revival are concentrated. Stellantis has already denied the news.
Stellantis denies the spin-off
According to sources cited by Bloomberg, Stellantis leaders met with representatives of Xiaomi and Xpeng as part of talks that lasted several months. It wasn’t just Maserati that was on the table: the discussions would also have concerned the possibility for Chinese groups to acquire shares in a Stellantis brand or to gain access to the production capacity of plants on the continent.
When asked about the possibility of negotiations with operators in the sector, the group declared that this is “normal business activity”, adding however that it does not comment on speculation. The denial on the topic of the corporate spin-off is much clearer:
Stellantis states in the most categorical terms that there is no truth to the hypothesis that it is considering a plan to divide the Company. Any statement to the contrary is pure invention.
Neither Xpeng nor Xiaomi have released any official statements.
What a possible agreement could lead to
An agreement with Xiaomi or Xpeng could offer Stellantis access to advanced technologies for electric vehicles and software, sectors in which Western manufacturers are lagging behind their Asian rivals, supported by years of public subsidies from Beijing.
For Chinese producers, however, the collaboration would represent an entry into the European market, which is increasingly strategic in a context of fierce price war on the domestic market.
On an industrial level, Chinese partners could also contribute to reabsorbing the excess production capacity that affects brands such as Fiat, Opel and Peugeot, easing the pressure on already compressed margins.
The agreement with Leapmotor slows down
However, any new deal will have to deal with the existing partnership with Leapmotor, of which Stellantis holds around 20%. The joint venture has already shown concrete results: European registrations grew from 1,300 to over 17,000 units in the fourth quarter of 2025 alone. As did the assembly of the models, which started in the Zaragoza plant.
This link makes the hypothesis of a parallel agreement with other Chinese operators complex on a practical and legal level. The most likely path could be to strengthen the collaboration with Leapmotor, recently confirmed by CEO Antonio Filosa himself.
Because May 21st is an important date
The group is expected to provide more details on its strategic plans on May 21, at an investor day to be held in the United States. That will be the place where management could clarify the future industrial structure between Europe and North America, the role of possible Asian partners and the ambitions on the zero emissions market.
Until then, there is no certainty about the negotiations with Xiaomi and Xpeng. Bloomberg itself underlined that there is no guarantee that an agreement will actually be reached.
