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Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM) and Leapmotor (Zhejiang Leapmotor Technologies Ltd (9863.HK) yesterday in Hangzou, China announced that the two companies have received all required authorizations. The formation of Leapmotor International B.V., a 51%/49% Stellantis-led joint venture, is now complete. The notice was made as the US escalated its tariffs and sanctions against Chinese made EVs, batteries and other industrial products. (read AutoInformed: Chinese EV Trade War Commences, Stellantis Invests in Chinese Leapmotor to Expand EV Sales, GAC-FCA JV to File for Bankruptcy)
“The creation of Leapmotor International is a great step forward in helping address the urgent global warming issue with state-of-the-art BEV models* that will compete with existing Chinese brands in key markets around the world,” said Stellantis CEO Carlos Tavares. “Leveraging our existing global presence, we will soon be able to offer our customers price competitive and tech-centric electric vehicles that will exceed their expectations.”
Headquartered in Amsterdam, the management team is topped by CEO Tianshu Xin, a former Stellantis China executive. Leapmotor said it is planning the introduction of the T03 and C10* first in the European markets and expanding to India & Asia Pacific (excluding Greater China), Middle East & Africa, and South America starting in the fourth quarter 2024.
Leapmotor International’s EV product offering is claimed to be complementary to Stellantis’ current technology and portfolio of brands . It will bring more affordable mobility solutions to global customers. Using Stellantis distribution channels, the launch plan will begin in Europe – France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, Romania – starting in September 2024 supported by dedicated country managers and 200 sales locations by the end of the year, including Stellantis &You locations, ramping up to 500 by 2026 to ensure a high level of service for customers,” Stellantis said.
In late 2024, the Leapmotor product launch roll-out will expand to the Middle East & Africa (Turkey, Israel and French Overseas), India & Asia Pacific (Australia, New Zealand, Thailand, Malaysia and India), and South America (Brazil and Chile).
*Leapmotor C10 and T03
- Leapmotor C10 is Leapmotor’s first global product, built to global design and safety standards. The C10 is based on Leapmotor’s self-developed LEAP3.0 technology architecture, it has intelligent electric technology such as central integrated electronic and electrical architecture, cell-to-chassis (CTC) technology, and its so-called intelligent cockpit. “It is a fully equipped, family-centric D-segment (large) vehicle with best-in-segment premium ride and handling experience, featuring 420 km WLTP range, and a 5-star E-NCAP rating. After winning the “2023 International CMF Design Award” for its technological and natural aesthetic design, it recently won the 2024 Gold Award from the French Design Awards (FDA),” Leapmotor claims.
- Leapmotor T03 is a small five-door, A-segment urban commuter car with sub-compact interior space. has 265 km WLTP range. It ranked No. 1 in the JD Power Initial Quality Study in the small BEV segment.
- At least one new model to be introduced every year in the next three years.
Chinese Trade Wars – Leapmotor International Established
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Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM) and Leapmotor (Zhejiang Leapmotor Technologies Ltd (9863.HK) yesterday in Hangzou, China announced that the two companies have received all required authorizations. The formation of Leapmotor International B.V., a 51%/49% Stellantis-led joint venture, is now complete. The notice was made as the US escalated its tariffs and sanctions against Chinese made EVs, batteries and other industrial products. (read AutoInformed: Chinese EV Trade War Commences, Stellantis Invests in Chinese Leapmotor to Expand EV Sales, GAC-FCA JV to File for Bankruptcy)
“The creation of Leapmotor International is a great step forward in helping address the urgent global warming issue with state-of-the-art BEV models* that will compete with existing Chinese brands in key markets around the world,” said Stellantis CEO Carlos Tavares. “Leveraging our existing global presence, we will soon be able to offer our customers price competitive and tech-centric electric vehicles that will exceed their expectations.”
Headquartered in Amsterdam, the management team is topped by CEO Tianshu Xin, a former Stellantis China executive. Leapmotor said it is planning the introduction of the T03 and C10* first in the European markets and expanding to India & Asia Pacific (excluding Greater China), Middle East & Africa, and South America starting in the fourth quarter 2024.
Leapmotor International’s EV product offering is claimed to be complementary to Stellantis’ current technology and portfolio of brands . It will bring more affordable mobility solutions to global customers. Using Stellantis distribution channels, the launch plan will begin in Europe – France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, Romania – starting in September 2024 supported by dedicated country managers and 200 sales locations by the end of the year, including Stellantis &You locations, ramping up to 500 by 2026 to ensure a high level of service for customers,” Stellantis said.
In late 2024, the Leapmotor product launch roll-out will expand to the Middle East & Africa (Turkey, Israel and French Overseas), India & Asia Pacific (Australia, New Zealand, Thailand, Malaysia and India), and South America (Brazil and Chile).
*Leapmotor C10 and T03