Stellantis & Leapmotor take off in nine European countries with two electric cars

The establishment of Leapmotor International B.V., the joint venture between Stellantis N.V. and Leapmotor, is complete, having secured all necessary approvals for the joint venture. Stellantis holds a 51% stake in it. The management team, headquartered in Amsterdam, is led by CEO Tianshu Xin, the former head of Stellantis' China operations. The leadership’s task is to lay the foundation for the successful introduction of the T03 and C10 initially in the European markets. Starting from the fourth quarter of 2024, expansion into the India & Asia-Pacific region (excluding China, Taiwan, Hong Kong, and Macau), the Middle East & Africa region, as well as South America, is set to commence. In October 2023, the two companies announced a Stellantis investment of approximately 1.5 billion euros, through which Stellantis will acquire around 21% of Leapmotor's shares. Leapmotor is an automobile manufacturer founded in 2015, which by 2023 ranked among the top three Chinese start-ups for EV brands (Electric Vehicles).

Joint Venture for Markets Outside China

The agreement also envisioned the creation of Leapmotor International, a joint venture that holds the exclusive rights for the export, sale, and manufacture of Leapmotor products outside of China, Taiwan, Hong Kong, and Macau. This partnership aims to further boost Leapmotor's sales in China, the world's largest market, while leveraging Stellantis's established global commercial presence to significantly accelerate the sales of the Leapmotor brand in other regions. Leapmotor International's EV product line complements the technology and portfolio of Stellantis's iconic brands and promises to provide more affordable mobility solutions to customers worldwide.

Leveraging Stellantis' distribution channels, the market launch in Europe – initially in France, Italy, Germany, the Netherlands, Spain, Portugal, Belgium, Greece, and Romania – will begin in September 2024. The launch will be supported by dedicated country managers and 200 sales points by the end of the year. This includes Stellantis &You locations. The number of locations is to be increased to 500 by 2026 to ensure a high level of service for customers. By the end of 2024, Leapmotor will also be launched in the Middle East & Africa regions (Turkey, Israel, and French overseas territories), India & Asia-Pacific (Australia, New Zealand, Thailand, Malaysia, and India), as well as South America (Brazil and Chile).