Stellantis and Jaguar Land Rover (JLR) have signed a Memorandum of Understanding (MOU) to explore opportunities for collaboration on product development in the United States.
The two automotive groups said the non-binding agreement will focus on identifying synergies across product and technology development, with the aim of leveraging their respective strengths to create value for both businesses.
The proposed collaboration comes as global automotive manufacturers continue to seek strategic partnerships to reduce development costs, accelerate innovation and strengthen their positions in the increasingly competitive US market.
“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.”
– Antonio Filosa, Chief Executive Officer of Stellantis.
PB Balaji, Chief Executive Officer of Jaguar Land Rover, said collaboration would play a key role in supporting the company’s future growth ambitions in North America.
“As we continue to evolve JLR for the future, collaboration will play an important role in unlocking new opportunities,” he said. “Working with Stellantis allows us to explore complementary capabilities in product and technology development that support our long-term growth plans for the US market.”
Neither company disclosed specific areas of collaboration or any potential future products arising from the discussions.
The companies said any future transactions or agreements resulting from the MOU discussions would remain subject to customary closing conditions, including the execution of binding definitive agreements.
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