(Bloomberg) -- Stellantis NV will sell automotive assets to its Chinese partner Dongfeng Motor Group Co. Ltd. after the carmaker halted output of its Jeep brand in the country last year. 

As part of the deal, Dongfeng Motor will acquire certain land use rights, buildings and structures in Wuhan and Xiangyang from Dongfeng Peugeot Citroën Automobile, its joint venture with Stellantis, according to a filing published Thursday. The sale will net Stellantis 1.71 billion yuan ($234 million). 

The joint venture will continue to make Peugeot and Citroën cars for Chinese customers via a 10-year leasing agreement, the filing said.  

Stellantis has struggled to gain traction in China compared to the likes of Volkswagen AG and BMW AG. Chief Executive Officer Carlos Tavares last year blindsided partner Dongfeng with its decision to end making Jeeps in China to switch course to an ‘asset-light’ strategy that includes more imports of vehicles.

The auto giant is still interested in Chinese EV start-ups as an alternative have a presence in China. It has considered potentially working with Chinese EV makers including Zhejiang Leapmotor Technologies Ltd., Bloomberg reported in August, citing people familiar with the matter. 

Following in the footsteps of its rivals, Stellantis is weighing options such as investing in a local EV firm, the people said at the time.

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