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Stellantis* and Leapmotor** have announced that Stellantis plans to invest €1.5 billion to acquire ~20% of Leapmotor, making Stellantis a significant shareholder. The deal also outlines the formation of Leapmotor International, a 51/49% Stellantis-led joint venture that has exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China. The move is not without its critics because it ties Stellantis to a company controlled by the Chinese communist party. Stellantis had previously stopped making vehicles in China. (AutoInformed: Tilt! Stellantis and GAC to Stop Jeep China JV)
“As consolidation unfolds among the capable electric vehicles start-ups in China, it becomes increasingly apparent that a handful of efficient and agile new generation EV players, like Leapmotor, will come to dominate the mainstream segments in China,” said Stellantis CEO Carlos Tavares. Continue reading
CARB Expands Community Air Protection Program
The California Air Resources Board (CARB) today approved the first five-year update to an enlightened statewide strategy for the Community Air Protection Program (CAPP) that it claims is designed to improve air quality at the local scale in collaboration with residents. The updated strategy, Blueprint 2.0, adds three new tools to the program: the use of community air grants to support local emissions-reduction plans; flexibility in the use of incentives funds to meet community goals; and community-focused enforcement. (AutoInformed:CARB Approves Toyota HD Fuel Cell Electric Powertrain Kit)
“Blueprint 2.0 is an example of equity-driven innovation that puts a spotlight on the environmental challenges that overburdened communities face and engages residents so that solutions are informed by their priorities and needs,” said CARB Chair Liane Randolph. “With today’s vote, we expanded the tools that residents have to work toward cleaner air and healthier communities.” Continue reading →