Stellantis, Dongfeng sign $1.16 billion deal to build Peugeot, Jeep vehicles in China

Stellantis is expected to contribute about 130 ⁠million euros for the project.

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Stellantis and its longtime Chinese partner Dongfeng on Friday signed an approximately 1 billion euro ($1.16 billion) deal to produce Peugeot- and Jeep-branded ‌vehicles ⁠in ⁠China for the domestic market as well as export, the automaker said on Friday.

The French-Italian carmaker first announced some details of the deal last month, saying at the time that its Peugeot brand ⁠would make China-built ‌vehicles using Dongfeng technology. Stellantis is expected to contribute about 130 ⁠million euros for the project, it said in a statement on Friday.

The automaker said its joint venture with Dongfeng would produce two new Peugeot-branded energy vehicles and two Jeep-branded off-road energy vehicles at its Wuhan plant ‌from 2027.

Peugeot unveiled two new concept cars at the Beijing International Auto Show in April, ⁠a renewed industrial push by the French-Italian carmaker in the world’s largest auto market after years of weak sales and restructuring.

On Friday, the companies also signed an MoU to further strengthen their cooperation.

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