A mixed model assembly line is production line where various product models are assembled. Line balancing and model sequencing problems are important for the efficiency of the assembly line. This paper solves them simultaneously aiming to minimize the latest completion time. A mixed integer liner programming model and a constraint programming model are proposed to provide the exact solution of the problem with station‐dependent assembly times. Because of NP‐hardness, a variable neighborhood simulated annealing algorithm is applied and compared to the hybrid simulated annealing algorithm from the literature. To strength the search process, a encoding method and a decoding method were proposed. Numerical results statistically show the efficiency of the proposed algorithm in terms of both the quality of solution and the time of achieving the best solution.