Stellantis and Leapmotor have officially launched their joint venture, “Leapmotor International,” to bring Chinese electric vehicles to Europe this fall, with plans to expand to additional markets in the near future. The partnership, which began with Stellantis acquiring a 20% stake in Leapmotor last fall, has now evolved into a joint venture where Stellantis holds a majority stake to distribute Leapmotor’s EVs globally.
What?
The joint venture between Stellantis and Leapmotor, named “Leapmotor International,” has been officially launched, marking the beginning of their collaboration to introduce Chinese electric vehicles to the European market starting this fall. This strategic partnership aims to leverage Stellantis’ global presence and distribution channels to drive the sales and growth of Leapmotor’s EV models internationally.
Why does it matter?
The creation of Leapmotor International signifies a significant move in the electric vehicle industry as two automotive giants join forces to offer competitive and technology-centric EVs to consumers. With plans to introduce Leapmotor’s EV models like the family-friendly C10 and the T03 compact urban commuter in Europe, Stellantis is set to establish over 200 sales points by the end of 2024 and expand to more than 500 by 2026.
Stellantis and Leapmotor are not only focusing on the European market but also have intentions to launch Chinese EVs in regions like the Middle East, Africa, India, Asia Pacific, and South America by the end of the year. This expansion into new markets demonstrates the joint venture’s commitment to driving global sales and establishing a strong presence in key regions worldwide.
How is it going to shape the future?
The collaboration between Stellantis and Leapmotor is set to reshape the electric vehicle landscape by offering a diverse range of Chinese EV models to consumers across multiple continents. By utilizing Stellantis’ established sales channels and infrastructure, Leapmotor International aims to accelerate the adoption of electric vehicles and contribute to combating global warming with innovative and eco-friendly transportation solutions.
With a focus on delivering state-of-the-art battery electric vehicles that compete with established Chinese brands, the joint venture is poised to enhance the accessibility and affordability of EVs while meeting the evolving needs of customers in various markets. As Stellantis and Leapmotor work together to scale quickly and expand their sales distribution channels, the future looks promising for the proliferation of Chinese EVs on a global scale.