Stellantis, agreements with Dongfeng and Jaugar Land Rover. Bruno: growth target in Italia
Non-binding memorandum of understanding signed between the two multinationals
A flurry of announcements today for the Stellantis automotive group. The group and Jaguar Land Rover signed a Memorandum of Understanding (MoU) to explore opportunities for product development collaboration in the US. Under the terms of the non-binding MoU, the two companies will evaluate 'possible synergies in product and technology development, leveraging each company's complementary expertise to create value for both organisations'. The eventual realisation of the transactions is 'subject to the satisfaction of customary closing conditions, including the signing of definitive binding agreements'.
Again, Stellantis and Dongfeng Group signed a non-binding memorandum of understanding to further expand their 34-year partnership, with plans to create a European-based joint venture for the sales, distribution, manufacturing, purchasing and engineering of Dongfeng's new energy vehicles (NEVs), with an initial focus on selected markets in Europe. As part of the project, says a note, the partners intend to establish a new European-based joint venture, led by Stellantis and 51% owned (49% owned by the Chinese group).
The new entity would manage the sales and distribution of Dongfeng's premium Voyah-branded Nevs in selected European markets, leveraging Stellantis' network and after-sales expertise. The new entity will also include joint purchasing and engineering activities, enhancing Dongfeng's highly competitive Chinese new energy vehicle ecosystem.
The partners also envisage the potential production of Dongfeng's Nev (New energy Vehicle) at the Rennes plant in France, in line with European regulations and Made in Europe requirements.
At the beginning of May, Stellantis and Dongfeng announced the strengthening of their historic Dongfeng Peugeot Citroën automobile joint venture based in China, which will produce new Peugeot- and Jeep-branded Nevs in the Wuhan plant for the Chinese market and for export to global markets, starting in 2027. The Dpca joint venture, explains a note, has produced more than 6.5 million Peugeot- and Citroën-branded vehicles in China for the domestic and foreign markets since its creation.
