Leapmotor International: A Joint Venture Between Stellantis and Leapmotor

Leapmotor International will start selling electric vehicles in nine European countries by September 2024, expanding to other key regions afterward. The company is a joint venture between Stellantis and Leapmotor, with Stellantis holding a 51% stake. Leapmotor International aims to transform electric vehicles with advanced technology and innovation.

Expansion Plans

Their expansion will quickly increase scale, benefiting both companies. By the end of 2024, Leapmotor plans to have 200 sales points in Europe, with a goal of 500 by 2026. They will also expand to India, Asia Pacific, the Middle East, Africa, and South America starting in late 2024.

Launch of T03 and C10

Leapmotor will initially launch the T03 and C10 models in Europe, introducing at least one new model annually for the next three years. The T03 is a compact urban car with a 265 km range, while the C10 is a family-friendly vehicle with a 420 km range and a 5-star safety rating.

Partnership Between Stellantis and Leapmotor

Stellantis and Leapmotor have received all necessary approvals for their joint venture, Leapmotor International, headquartered in Amsterdam and led by CEO Tianshu Xin. Stellantis invested €1.5 billion in Leapmotor, acquiring 21% equity. The partnership will leverage Stellantis’ global presence to boost Leapmotor’s international sales.

The collaboration aims to address global warming by offering competitive and technologically advanced electric vehicles. Stellantis CEO Carlos Tavares emphasized the goal of meeting customer expectations with affordable, high-tech EVs. At the same time, Leapmotor CEO Jiangming Zhu highlighted the partnership’s efficiency. Further, potential to enhance Leapmotor’s global standing.

Leapmotor

Leapmotor’s C10 and T03 models are designed to meet global standards. Additionally, featuring advanced electric technology and safety. Leapmotor, founded in 2015 and based in Hangzhou, China, focuses on developing and manufacturing core EV components in-house.

Stellantis

Stellantis, a leading automaker, is committed to providing clean and affordable mobility solutions and aims to become a carbon net zero company by 2038. Leapmotor vehicles will be sold through Stellantis dealerships, ensuring quality and support for customers in Europe.

Stay tuned for more updates.