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With Leapmotor selling over 100 vehicles in China by 2023, the partnership with Stellantis promises to revolutionize the electric car market in Europe and the US!
A stellantis, one of the largest automakers in the world, has just taken a bold step into the automotive market eletric cars by acquiring 20% of the Chinese startup Leap motor. This strategic move includes a significant investment of 1,5 billion euros (approximately US$1,58 billion), reinforcing Stellantis’ commitment to electrification.
New Joint Venture to boost international sales
As part of this investment, Stellantis has formed a new joint venture, Stellantis International, in which it holds a 51% stake. This exclusive partnership will allow Stellantis to produce, sell and export vehicles of the Leap motor outside China, starting in Europe, with expansion planned for the U.S. Shipments are scheduled to begin in the second half of 2024, according to the insideevs website.
Stellantis expands its electrification portfolio
Stellantis, which already encompasses iconic brands such as Jeep, Citroën, Chrysler and RAM, will utilize Leapmotor's vehicle lineup to achieve its electrification goals outlined in the strategic plan Give Forward 2030. Leapmotor cars will be produced at Stellantis' global factories, including in the United States.
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Leapmotor: innovation and global reach
A Leap motor, headquartered in Hangzhou, has already carved out a niche for itself in China's competitive electric vehicle market, delivering around 111.000 NEVs in 2022. The company offers innovative models, such as the SUV C11 and the sedan C01, and plans to expand its lineup to cover all segments from A to E in the next three years. Its latest model, the Leapmotor C10 SUV, was unveiled at the IAA 2023 in Munich.
Advanced technology and versatility
Leapmotor bets on the platform 3.0Also known as Four-Leaf Clover, which supports both battery electric vehicles (BEV) and extended-range electric vehicles (EREV). This technology allows EREVs to use a combustion engine only to generate power for the battery, without direct connection to the wheels, unlike traditional PHEVs.
A promising partnership
With this alliance, the stellantis and Leap motor are ready to revolutionize the global scenario eletric cars, combining technological innovation with unprecedented market reach. This collaboration not only strengthens Stellantis’ position in the electrification sector, but also opens up new opportunities for Leapmotor to explore markets outside of China, ensuring a promising future for both companies.
News from 2023.