Car giants Jaguar Land Rover and Stellantis in partnership to explore US collaborations
Source: The Business Desk - Neil Hodgson
Stellantis and Jaguar Land Rover (JLR) today (May 20) signed a Memorandum of Understanding (MOU) to explore opportunities to collaborate on product development in the United States.
It could see the two automotive giants work on developing models for the North American market.
JLR currently has no manufacturing capability in the US and has taken a hit from President Donald Trump’s punitive tariffs on its imports to the US.
The two groups said under the terms of the non‑binding MOU, Stellantis and JLR will explore collaboration opportunities to create synergies across product and technology development, leveraging the companies’ complementary strengths to create value for both organisations.
Stellantis CEO, Antonio Filosa, said: “By working with partners to explore synergies in areas such as product and technology development, we can create meaningful benefits for both sides while remaining focused on delivering the products and experiences our customers love.”
JLR CEO, PB Balaji, said: “As we continue to evolve JLR for the future, collaboration will play an important role in unlocking new opportunities.
“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.”
Implementation of any potential transactions as a result of the MOU discussions would be subject to customary closing conditions including execution of binding definitive agreements.
NYSE-listed Stellantis boasts an international portfolio of car brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys.
The Amsterdam-based group owns the former Vauxhall Motors site in Ellesmere Port where it switched from producing the Astra model to electric van production in a £100m investment four years ago, guaranteeing 1,200 jobs.
Indian-owned JLR employs 34,000 staff in the UK, including at its manufacturing plants in Halewood, Merseyside, and Solihull and Castle Bromwich in the West Midlands.