Stellantis NV announced on Wednesday that it signed a memorandum of understanding with Chinese car manufacturer Dongfeng Group to establish a European joint venture for the manufacturing and sale of Dongfeng's new energy vehicles.
Stellantis will lead the entity in a 51%-49% split and use its existing network to sell electric vehicles made by Dongfeng's luxury division Voyah. The cooperation could expand to include the manufacturing of the Chinese company's cars at Stellantis's plant in Rennes, France. Dongfeng Chairman Qing Yang said that the joint venture will meet shareholders' needs as it will "unlock greater value from the joint venture, accelerate Dongfeng’s global expansion, support Stellantis’ global strategic shift and China presence."
https://breakingthenews.net/Article/Stellantis-Dongfeng-to-form-joint-venture-in-Europe/66327139
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