*This content was translated by AI.
Stellantis and Dongfeng Motor signed a contract worth approximately 1 billion euros (about 1.57 trillion won, or 1.16 billion dollars) on the 15th (local time) to produce Peugeot and Jeep brand vehicles in China for the domestic market and for export.
Stellantis announced plans to invest approximately 130 million euros in the project. The joint venture is scheduled to begin production in 2027 at its Wuhan plant, manufacturing two new energy vehicles (electric vehicles) under the Peugeot brand and two off-road energy vehicles under the Jeep brand.
Peugeot brand vehicles will be manufactured in China utilizing Dongfeng's technology. This contract is part of Stellantis's strategy to regain industrial momentum in China, the world's largest automotive market, following years of sluggish sales and restructuring. The unveiling of two new concept cars by Peugeot at the Beijing Motor Show last April was also part of this strategy.
The two companies also signed a memorandum of understanding (MoU) to further strengthen their cooperation alongside this contract. However, while the agreement aims to produce Peugeot and Jeep brand vehicles in China for both the domestic market and export, it remains unknown whether South Korea is included in the export targets.
<© STARNEWS. All rights reserved. No reproduction or redistribution allowed.>
*This content was translated by AI.
