Stellantis is gearing up to shake the automotive world with the upcoming launch of its joint venture with Chinese OEM Leapmotor, set to be christened as ‘Leapmotor International.’ After investing a hefty $1.6 billion in Leapmotor last fall, Stellantis is now on the brink of unveiling a collaboration that will see China-made EVs from the former being sold globally.
What?
The partnership between Stellantis and Leapmotor took flight when Stellantis acquired a substantial 20% stake in Leapmotor, marking a significant step towards a groundbreaking joint venture. Set to be predominantly owned by Stellantis with a 51% stake, this collaboration aims to introduce China-built electric vehicles to international markets, including Europe and potentially the US.
Why does it matter?
The approval of the joint venture earlier this year granted Stellantis exclusive rights to manufacture, export, and sell Leapmotor EVs outside of China. With the necessary paperwork now finalized, executives from both conglomerates are gearing up to officially announce ‘Leapmotor International’ and unveil the core team behind this ambitious endeavor.
How is it going to shape the future?
Industry insiders suggest that production of Leapmotor EVs could commence in Europe, specifically in Italy, with reports hinting at Stellantis facilities in Poland as potential manufacturing sites. Rumors swirl around a targeted output of 150,000 vehicles annually by 2026, with plans to hit the 500,000 mark by 2030. As Stellantis and Leapmotor prep for the grand reveal of ‘Leapmotor International,’ the automotive landscape braces for a seismic shift in the realm of electric vehicles.
As the automotive industry braces itself for this groundbreaking partnership, the official launch of ‘Leapmotor International’ promises to revolutionize the EV market and potentially redefine the future of electric mobility on a global scale. Keep your eyes peeled for updates as Stellantis and Leapmotor usher in a new era of innovation and collaboration in the realm of electric vehicles.