Stellantis N.V. plans to invest €1.5 billion to acquire approximately 20% of China’s Leapmotor. Focused on the mid-to-high end market, Leapmotor delivered approximately 111,000 NEV units in 2022, putting it into the first tier among China’s NEV automakers.
This will be an industry-first global electric vehicle relationship between a leading automaker and a Chinese new electric vehicle (NEV) manufacturer.
The partnership aims to further boost Leapmotor’s sales in China, the biggest market in the world, while leveraging Stellantis’ established global commercial presence to significantly accelerate Leapmotor brand sales in other regions, starting with Europe.
In the next three years, Leapmotor’s product plan is expected to cover the full range of A- to-E segments, based on one technical architecture with three highly scalable platforms with BEV and Range Extender EV powertrains.
Stellantis CEO, Carlos Tavares, says: “We feel it’s the perfect time to take a leading role in supporting the global expansion plans of Leapmotor, one of the most impressive new EV players who has a similar tech-first, entrepreneurial mindset to ours. Through this strategic investment, we can address a white space in our business model and benefit from Leapmotor’s competitiveness both in China and abroad.”
Founded in early 2021, Stellantis has 14 automotive brands and two mobility businesses that aim to provide clean, safe and affordable freedom of mobility in more than 30 countries with customers in more than 130 markets.