Peugeot and Jeep, owned by French-Italian automotive group Stellantis, have committed to fresh investments to build electric cars with its partner Dongfeng Motor, as more international marques join the fight against Chinese rivals in the world’s largest car market.
Stellantis announced on Friday that four electric vehicles (EVs) under the two storied auto brands would roll off the production lines in 2027 as the European carmaker leverages Chinese technologies to assemble best-class cars for the future of mobility.
“Stellantis and Dongfeng are ready to further leverage their strengths and introduce all-new vehicles with cutting-edge EV technologies from brands that customers worldwide trust and love,” Stellantis CEO Antonio Filosa said in a statement. “We look forward to this project and to collaborate even more in the future.”
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The two companies would budget a combined 8 billion yuan (US$1.18 billion) for mass producing the new models, of which Stellantis would contribute about US$130 million, according to the statement.
Some of the vehicles assembled at the ventures between Stellantis and Dongfeng would also be exported to overseas markets, it added.
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Peugeot and Jeep, long eclipsed by local rivals in a market where the EV adoption rate has exceeded 60 per cent, are following in the footsteps of Hyundai Motor’s Ioniq in trying to regain lost ground in mainland China.