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Maruti Suzuki which sells every second car in India, also said it sees the chip-shortage crisis improving in the current quarter which it hopes will help ramp up production to close the gap on pending orders.

Hitting that production target would depend on a stable supply of chips

Bentley also committed to investing 2.5 billion pounds ($3.4 billion) in sustainability over the next decade.

Stellantis' business performance in China improved markedly in 2021, with its Dongfeng Peugeot Citroen Automobile selling more than 100,000 vehicles.

Toyota said sales were 10.5 million vehicles in 2021, including those by affiliates Daihatsu Motors and Hino Motors.

The consortium, which includes private equity firms SJL Partners and BNW Investment, invested $33 million in Nexeon last November.

Renault SA, Nissan Motor Co and Mitsubishi Motors together will increase the number of common platforms for EVs to five from four, and by 2030 they plan to have a combined EV line up of 35 vehicles.

The deal remains subject to approval by the Chinese government, but Stellantis, plans to increase its stake to 75% as part of its efforts to tackle one of the weak spots in its business.