Stellantis and Dongfeng Group today announced the signing of a strategic cooperation agreement aimed at expanding their 34-year partnership through the joint production of Peugeot and Jeep vehicles in China for the domestic market and for export to other markets.
Stellantis and Dongfeng Group also signed a non-binding strategic MoU to further strengthen their cooperation, leveraging their respective scale, expertise, and R&D capabilities in the sector.
"Benefiting from the favorable industrial policies of the automotive sector in Hubei province and Wuhan municipality," an official statement reads, the project involves a total investment of more than 8 billion Chinese yuan (about 1 billion euros), of which Stellantis plans to contribute approximately 130 million euros.
(Unioneonline)
