Stellantis NV and Leapmotor have obtained all necessary authorisations to set up Leapmotor International BV, a 51/49-share joint venture led by Stellantis.
From its headquarters in Amsterdam, the team headed by CEO Tianshu Xin, former manager of Stellantis China, is preparing the launch of the T03 and C10 models first in the European markets, then expanding sales to India & Asia Pacific, Middle East & Africa, and South America in the fourth quarter of 2024.
In October 2023, the two companies had announced an investment by Stellantis of about EUR 1.5 billion in Leapmotor, for the acquisition of about 21% of the shares of Leapmotor, an automotive company ranked among the top 3 Chinese electric vehicle start-ups in 2023. The agreement also provided for the establishment of Leapmotor International, with exclusive rights to export and sell as well as manufacture Leapmotor products outside Greater China. The partnership aims to further boost Leapmotor’s sales in China, the world’s largest automotive market, while benefiting from Stellantis’ established commercial presence in international markets to increase sales of the Leapmotor brand in other regions.
“The partnership between Leapmotor and Stellantis demonstrates a high level of efficiency and quality, and ushers in a new chapter in the global integration process of China’s intelligent electric vehicle industry,” said Zhu Jiangming, founder, President and CEO of Leapmotor. “Utilising Leapmotor’s innovative technologies and cutting-edge products, with Stellantis’ support in overseas distribution, services and marketing, we aim to offer customers around the world an exceptional driving experience and on-board comfort. We believe that this partnership can give Leapmotor further impetus to become a globally recognised smart electric vehicle manufacturer.”
Starting in September 2024, Leapmotor International is set to expand global sales of its electric vehicles to nine European countries and subsequently to other key regions
Shifting the spotlight to the vehicles, the Leapmotor C10 is the brand’s first global product and is based on the Leap3.0 technology architecture that uses intelligent electric technology and a central integrated electronic and electrical architecture, Cell-to-Chassis (CTC) cell-to-chassis technology, Wltp range is 420 km. In contrast, the Leapmotor T03 is an agile five-door car ideal for urban use, with a Wltp range of 265 km.