Stellantis and Toyota Expand Partnership with New Large Van | Photo credits: PSA Group, Communication Department
May 30 (Reuters) – Carmaker Stellantis on Monday announced it is expanding its partnership with Toyota Motor Europe (TME) with a deal for a new large-volume van for the European market, also including a battery-electric version.
Stellantis will supply this new van to TME, a division of the Japanese group Toyota Motor, which will market it in Europe under the Toyota brand. The new vehicle will be produced at Stellantis’ plants in Gliwice, Poland, and Atessa, Italy.
“Scheduled mid-2024, this new large van marks TME’s first entry into the large-volume utility vehicle segment,” Stellantis said in a statement.
The agreement expands the partnership between the two automakers and enables better optimization of Atessa’s Stellantis plant, which currently manufactures high-volume vans sold under the Peugeot, Citroën and Fiat brands.
“This is an important addition that complements our light commercial vehicle lineup for Toyota’s European customers,” Stellantis said.
Paris-listed Stellantis stock was up 1.6% at 0941 GMT.
Automakers are increasingly agreeing on cross-production deals to cut costs for vans, which are in high demand due to the boom in parcel delivery.
Electric versions are also seeing their sales increase to make so-called “last mile” deliveries in city centers.
(Report by Juliette Portala and Gilles Guillaume; French version Diana Mandiá, edited by Kate Entringer)