JLR and Stellantis explore US product development partnership
Jaguar Land Rover (JLR) has entered into an agreement with Stellantis - the parent company of car brands such as Jeep, Ram, Dodge, Peugeot, Fiat and Citroen - to explore jointly developing vehicles in the United States.
The two automotive groups have signed a Memorandum of Understanding (MOU) to explore opportunities for collaboration on US product development.
They said the non-binding agreement will focus on identifying synergies across product and technology development, with the aim of leveraging their respective strengths to create value for both businesses.
PB Balaji, chief executive officer of Jaguar Land Rover, said collaboration would play a key role in supporting the company’s future growth ambitions in North America.
“As we continue to evolve JLR for the future, collaboration will play an important role in unlocking new opportunities,” he said.
“Working with Stellantis allows us to explore complementary capabilities in product and technology development that support our long-term growth plans for the US market.”
Neither company disclosed specific areas of collaboration or any potential future products arising from the discussions.
The companies said any future transactions or agreements resulting from the MOU discussions would remain subject to customary closing conditions, including the execution of binding definitive agreements.
