Stellantis NV signed a memorandum of understanding with Canadian armored vehicle manufacturer Roshel Inc. to sell its idled assembly plant in Brampton, Ontario. This agreement establishes the framework for a transaction that marks the first step in a complex divestment process.
The sale is contingent on Roshel securing a Canadian military contract for light utility vehicles. This defense contract is valued at up to C$4.9 billion ($3.5 billion).
Roshel indicated it could quickly reactivate the facility if it wins the government bid. The deal provides Stellantis a path to restore operations at a site that formerly employed 3,000 unionized workers.