Stellantis, JLR to explore jointly developing vehicles in US

May 20 (Reuters) - ‌Stellantis and ​Britain's ​Jaguar Land Rover will consider jointly developing vehicles in the ‌U.S., the French-Italian automaker said on ⁠Wednesday.

The two companies signed a preliminary agreement ‌to explore collaboration opportunities ‌in product and technology development.

They did not disclose any further details.

The potential ​collaboration would be the latest in a string of partnerships between ⁠global automakers as they look to cut production and ​R&D expenses and fill underutilized capacity.

Earlier in the day, Stellantis said ​it was planning ‌a joint venture in Europe with China's Dongfeng that would ⁠explore production of electric vehicles.

For JLR, owned by India's Tata Motors Passenger Vehicles, ⁠the U.S. collaboration with Stellantis as its financials ​have taken a large hit from U.S. President Donald Trump's tariffs.

The U.S. is a key ‌growth market for JLR, where its Defender and Range ‌Rover luxury SUVs are popular. However, ⁠it has no ‌manufacturing presence in ​the country.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Sahal ‌Muhammed)

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