PARIS/MILAN: Stellantis and China's Dongfeng said on Wednesday they plan to form a joint venture in Europe, including potential production in France, offering another glimpse into the French-Italian automaker's longer-term strategy.
The two groups signed a preliminary deal covering sales and distribution, manufacturing, purchasing and engineering activities focused on Dongfeng's new energy vehicles. The JV will be owned 51% by Stellantis and 49% by Dongfeng. Stellantis already has a joint venture with its other Chinese partner, Leapmotor, the scope of which is set to expand beyond distribution into manufacturing, with plans to jointly build two models in Spain and possibly later transfer ownership of a Stellantis factory in the country to the JV.
