Electrifying News: Stellantis and Leapmotor Set to Spark Up Europe with Electric Cars This September
Staff Editor
2 min read
Stellantis and Leapmotor: A New Venture in the World of Electric Vehicles
In a move that could shake up the electric vehicle market, European carmaker Stellantis has announced a joint venture with Chinese startup Leapmotor to bring EVs to nine European countries. The sales are set to kick off in September for countries including Belgium, France, Italy, and Germany, with plans to expand to South America, the Middle East, Africa, India, and the Asia Pacific in the fourth quarter. Stellantis CEO Carlos Tavares unveiled the partnership at a news event in Hangzhou, hinting at the company’s ambitious global expansion plans.
The collaboration between Stellantis and Leapmotor marks the birth of Leapmotor International, a joint venture geared towards manufacturing and selling electric vehicles beyond China’s borders. With Stellantis holding a 51% stake and Leapmotor at 49%, the partnership aims to leverage Stellantis’ extensive overseas dealership network and global presence to propel Leapmotor’s brand onto the international stage. This strategic move is part of Stellantis’ broader plan to stay ahead in the rapidly evolving automotive industry, where electric vehicles are increasingly becoming the norm.
The joint venture’s initial offerings will include the T03 and C10 models, with a promise to introduce a new model each year for the next three years. While specific production locations remain undisclosed, both companies emphasized the importance of choosing sites with the capacity to support sales, uphold quality standards, and ensure cost competitiveness. The decision to expand beyond China reflects Leapmotor CEO Zhu Jiangming’s belief that future uncertainties, both political and regional, will necessitate Chinese EV brands to establish a global manufacturing footprint.
The timing of this partnership coincides with escalating trade tensions between the US, Europe, and China, particularly in the electric vehicle and clean energy sectors. The Biden administration recently unveiled plans to impose new tariffs on a range of Chinese products, a move that could heighten trade frictions between the world’s major economies. Accusations of China overproducing electric vehicles and flooding international markets have only added fuel to the fire, creating a volatile landscape for EV manufacturers worldwide.
As Stellantis and Leapmotor gear up to launch their electric vehicles in key markets across Europe and beyond, the success of this joint venture could have far-reaching implications for the industry. By combining Stellantis’ global reach and Leapmotor’s innovative technology, the partnership signals a new chapter in the electric vehicle revolution. With consumers increasingly embracing sustainable mobility solutions, the stage is set for Stellantis and Leapmotor to make their mark in the competitive world of electric vehicles.
