Business
Stellantis Explores US Partnership With Jaguar Land Rover After $13 Billion Pledge
Stellantis Explores US Partnership With Jaguar Land Rover After $13 Billion Pledge
About this update from Stellantis N.v.
Stellantis NYSE:STLA is pushing deeper into partnership mode as CEO Antonio Filosa looks to rebuild momentum in the US, with the Jeep and Ram maker signing a non-binding memorandum of understanding with Jaguar Land Rover to explore product development opportunities in the country. The move marks Filosa's first US deal and comes as Stellantis prioritizes a lucrative market where it has already pledged $13 billion to reinvigorate its business after years of underinvestment.For JLR, owned by India's Tata Motors Passenger Vehicles, the potential opportunity could be access to Stellantis factories in the US, possibly allowing the British luxury-car maker to avoid import tariffs in its largest market. Still, the agreement remains exploratory for now, with both companies declining to comment on whether the talks could eventually lead to a manufacturing partnership.The deal fits into a broader reset led by Filosa and Chairman John Elkann, who are redesigning Stellantis' 14-brand group to restore growth, cut costs and rebuild market share. It also follows recent agreements with Zhejiang Leapmotor Technology and Dongfeng Motor aimed at supporting Stellantis' troubled European operations and restoring production in China, while investors now wait for more details on Filosa's strategy at Thursday's capital markets day.