Leapmotor, Stellantis Collaboration Births International Sales Drive

Leapmotor and Stellantis Announce New Joint Venture

Leapmotor, a well-known Chinese electric car manufacturer, and Stellantis NV, Europe's second-largest automaker, have officially launched their joint venture. The Amsterdam-based venture, dubbed Leapmotor International, is poised for immediate global effect, with sales beginning in Europe soon.

Details about the collaboration

The new partnership, unveiled at a press event, prepares the path for Leapmotor vehicles to enter worldwide markets. Stellantis is the venture's largest shareholder, accounting for 51%, with Leapmotor supplying the other 49%. This collaborative effort names Xin Tianshu, Stellantis China's Vice President, as CEO.

European launch, global expansion

The JV management team, led by Xin, is presently preparing for the European launch of the Leapmotor T03 and C10 models. The initial rollout will include Belgium, France, Italy, Germany, Greece, the Netherlands, Romania, Spain, and Portugal. Leapmotor International intends to expand its European sales network to 200 by the end of the year. The venture will expand into South American, Middle Eastern, African, and Asia-Pacific markets in the fourth quarter of 2024.

Updated Business Model

Following Stellantis' financing, Leapmotor's business model has been revised to include three distinct parts. In China, the brand will employ its in-house R&D capabilities to release two to three goods each year for the next three years. Leapmotor plans to enter the global market with its competitive goods and Stellantis' strong network of over 10,000 dealers. Aside from its car offers, Leapmotor intends to sell automotive parts to other automakers.

A significant milestone for Leapmotor and Stellantis

Last October, Leapmotor announced a large 1.5 billion-euro investment from Stellantis, giving the latter a 20% ownership. Stellantis become the Chinese EV maker's largest outside shareholder. The relationship formed through Leapmotor International is a strategic move to capitalize on Stellantis' significant global capabilities in order to accelerate and grow Leapmotor's product sales internationally. Leapmotor International's management team was officially constituted on March 6th, a crucial milestone for the joint venture, as revealed on Weibo.