Since 2019, Stellantis has had the Citroën Jumpy and Peugeot Expert manufactured at a factory in Uruguay for units sold in Latin America, with the factory assembling kits sent from France. Stellantis has become the plant's largest customer since the group commissioned the plant to manufacture the Peugeot Landtrek pick-up, and could become the plant's largest shareholder.
Indeed, the rumours that have been circulating in recent days suggest that Stellantis could acquire 49% of the capital of this Nordex factory, the only automotive factory in Uruguay, to become its first shareholder. This factory not only produces models for the Stellantis group, but also has several clients such as Ford (Transit) and Kia (Bongo). It is owned by a businessman, Manuel Antelo, who would therefore be prepared to sell a large part of his capital to Stellantis while retaining control of the factory, as he would keep 51% of the capital. The plant is preparing to produce the Fiat Titano, the twin of the Peugeot Landtrek, which will be sold only in Brazil.
Stellantis is therefore aiming to acquire a significant stake in the Nordex plant in Uruguay, without, however, buying the plant outright, which would remain under the control of Manuel Antelo and would continue to assemble mainly cars for other brands. This would allow Stellantis to increase its production capacity in Latin America without having to build a completely new plant and with a certain degree of flexibility, given that the Nordex plant is a manufacturing plant. final assembly, with parts coming from kits sent from other countries, such as France for the Citroën Jumpy and Peugeot Expert.
The two parties appear to be in talks to finalise the details, which could lead to Stellantis making an announcement soon. All the indications are that the group will increase its stake to 49% of the capital of this plant, a condition apparently necessary for it to take over the production of the Peugeot Landtrek and the Fiat Titano.