The clip, released on Friday, features Mendes chasing after Cabello after noticing her working at a diner.
The pair begin a steamy, summer romance that includes late nights and motorcycle rides. Things then get hot and heavy inside of a hotel room.
"I love it when you call me senorita/ I wish I could pretend I didn't ya/ But every touch is ohh-la-la-la/ It's true la-la-la/ Ooh, I should be running," Mendes and Cabello sing during the chorus.
The video ends with the relationship ending, with Mendes and Cabello going their separate ways.
Mendes and Cabello previously collaborated on "I Know What You Did Last Summer" which appeared on Mendes' 2015 debut album titled Handwritten.
Mendes released a new single titled "If I Can't Have You" with an accompanying music video in May.