Stellantis and Jaguar Land Rover (JLR) agreed to “explore” ways to work together on new products in the United States.
The two sides signed a memorandum of understanding to look for ways to collaborate or create opportunities across product lines and technological development that will create value for both companies.
“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,” said Antonio Filosa, CEO of Stellantis, said in a statement.
Neither company offered specifics about the deal, other than it will be for vehicles in the U.S. The news comes out just one day before Filosa leads the company’s investor day event May 21, where he’ll unveil the latest version of his strategic plan to grow the company.
“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 U.S. market,” said PB Balaji, Chief Executive Officer of JLR.
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. The company’s announced several other partnerships in recent weeks, include deals with China’s Dongfeng and Leapmotor, chip maker NVIDIA, and others.
While one might think this is an ideal way to really exploit each sides SUV-based businesses, the better play may be on the sedan side, which is to say Jaguar and Chrysler and Dodge. Jaguar’s slowly whittled down the number of cars it offers while Chrysler is a lineup of one: the Pacifica minivan.
However, many have talked out about pushing Chrysler more upmarket to better compete for sales in the U.S. At one time, the Chrysler umbrella housed the 300, 200 and more. Now it’s the underutilized, largely disregarded stepchild of Stellantis’ U.S. business.
[Images: Stellantis, JLR]
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via Autobuzz Today
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