Stellantis plans to develop cars with Jaguar Land Rover in the US, the latest step in a deep overhaul for the maker of Jeep sport utility vehicles and Ram trucks.
Both companies will explore opportunities to collaborate on product development in the country, they said on Wednesday.
It’s the first deal Stellantis Chief Executive Officer Antonio Filosa is striking in the US, a lucrative market the company is prioritizing.
The plan adds to a series of agreements Stellantis recently inked with its Chinese partners, Zhejiang Leapmotor Technology and Donfeng Motor.
Those are meant to shore up the automaker’s troubled European operations and restore production in China.
Stellantis last year pledged to invest $13 billion to reinvigorate its US business.
The latest deal may eventually give JLR, which is owned by India’s Tata Motors Passenger Vehicles, access to Stellantis factories in the US.
That would allow the British luxury-car maker to sidestep import tariffs in its largest market.
For now, JLR and Stellantis have signed a non-binding memorandum of understanding. They declined to comment on a possible future manufacturing partnership.
Filosa and Stellantis Chairman John Elkann are redesigning the 14-brand group as a way to restore growth, cut costs and rebuild market share following years of underinvestment during the tenure of former CEO Carlos Tavares.
Filosa has flagged that partnerships will be a key pillar of the company’s strategy going forward, and earlier this month pointed to possible US deals to come.
The CEO, who took the helm of Stellantis nearly a year ago, is due to present more details on his new strategy at a capital markets day.
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