What?
Stellantis is set to introduce budget-friendly Chinese electric vehicles to Europe in September, starting with the sub-20,000 EUR Leapmotor T03 electric hatchback and the Leapmotor C10 mid-size SUV. This move comes as part of a joint venture between Stellantis and Leapmotor International, aiming to leverage affordable EV options in the market. The collaboration between the two companies will establish dealerships in nine European countries by the end of the year, with plans to expand even further in the coming years.
Why does it matter?
The launch of Leapmotor’s electric vehicles in Europe marks a significant step towards providing accessible and eco-friendly transportation options to consumers. Stellantis’ strategic partnership with Leapmotor demonstrates a commitment to offering competitive pricing below 20,000 euros, challenging Chinese counterparts in the market. By introducing the Leapmotor T03 and C10 models, Stellantis aims to meet the growing demand for electric vehicles and strengthen its presence in the EV sector.
How is it going to shape the future?
With the expansion of Leapmotor International into various regions globally, including India, Asia Pacific, the Middle East, Africa, and South America, the accessibility and affordability of electric vehicles are set to increase significantly. The introduction of new Leapmotor models annually in Europe over the next three years signals a shift towards sustainable mobility solutions. By offering competitive pricing and a diverse range of electric vehicles, Stellantis and Leapmotor International set the stage for a future where EV adoption is more widespread and accessible to a larger audience. The joint venture’s exclusivity to sell and manufacture Leapmotor EVs outside China reflects a strategic positioning to cater to the evolving needs of the global electric vehicle market.