Stellantis has finalised a €1bn deal with Chinese state-owned Dongfeng to produce Peugeot and Jeep vehicles in China as the European group tries to establish a foothold in the world’s largest car market at a time of upheaval across the industry.
The owner of the Fiat, Peugeot and Jeep brands said on Friday that under a joint-venture arrangement with Wuhan-based Dongfeng the new models would be produced for the Chinese market as well as for export.
The announcement is the latest move by Stellantis chief executive Antonio Filosa as he tries to revive the group after years of weak sales in Europe and the US.
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