Stellantis to Invest €1.5 Billion in China's Leapmotor & Acquire Around 20%

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.

The deal also outlines the formation of Leapmotor International, a Stellantis-led joint venture that has exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China.

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.

The joint venture expects to begin shipments in the second half of 2024.

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.”

Leapmotor Founder and CEO, Zhu Jiangming, adds: “Developed with our in-house, full-suite technology capabilities, Leapmotor brings to the market the best-in-class EV products in a most cost competitive way. We believe in win-win partnerships formed by strong players in the fast-evolving environment. Working with Stellantis, we will continue to be innovative and creative in technology and business synergies and will bring Leapmotor EV cars to the global market.”

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.

HASHTAG: Carlos Tavares Leapmotor Stellantis Zhu Jiangming

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