Stellantis and Leapmotor have announced that they have received all necessary approvals to establish the Leapmotor International BV joint venture, managed by Stellantis with a 51% stake. Headquartered in Amsterdam, the management team led by its CEO Tianshu Xin, a former Stellantis manager in China, is now preparing to launch the T03 and C10 models on European markets, followed by India and the Asia-Pacific (excluding China), Middle East and Africa and South America regions from the fourth quarter of 2024.
Leapmotor International plans to start operations in Europe in September 2024
In October 2023, an investment of nearly €1.5 billion was announced by Stellantis to acquire approximately 20% of the capital of Leapmotor, an automaker ranked among the top 3 Chinese electric vehicle startups in 2023. The agreement also provides for the creation of a joint venture “Leapmotor International”, which holds the exclusive rights to export, sell and produce Leapmotor products outside of China. This partnership aims to rapidly expand Leapmotor’s sales in China, the world’s largest market, while leveraging Stellantis’ international commercial presence to significantly accelerate sales of the Leapmotor brand in other regions of the world.
“The creation of Leapmotor International marks a significant step in addressing the global climate crisis, with cutting-edge electric vehicles capable of competing with Chinese brands currently present in major international markets,” said Carlos Tavares, CEO of Stellantis. “Thanks to our international presence, we will soon be able to offer our customers competitive, cutting-edge electric vehicles that meet their expectations.”
“The partnership between Leapmotor and Stellantis demonstrates a high level of efficiency, opening a new chapter in the global integration of the Chinese smart electric vehicle industry,” said Zhu Jiangming, founder, chairman and CEO of Leapmotor. “As a result, with Leapmotor’s cutting-edge products and technologies, as well as the support of Stellantis’ marketing networks and services, we are confident that consumers around the world will be able to enjoy the exceptional driving and user experience of Leapmotor products. We believe that this cooperation can give Leapmotor a new dimension to become a world-class player in the field of smart electric vehicles.”
Leapmotor International‘s electric vehicle offerings are expected to complement Stellantis’ current technologies and iconic brand portfolio to provide more affordable mobility solutions to customers worldwide. The joint venture’s launch plan will leverage Stellantis’ distribution networks to begin in Europe – France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, and Romania – starting in September 2024, supported by dedicated country managers and 200 dealerships, including Stellantis&You sites, which will increase to 500 by 2026, to ensure a high level of customer service.
By the end of 2024, the rollout of new Leapmotor products will expand to the Middle East and Africa (Turkey, Israel, and French overseas territories), India and Asia Pacific (Australia, New Zealand, Thailand, Malaysia, and India), and South America (Brazil and Chile). The Leapmotor C10 is the brand’s first global product, developed to global design and safety standards. The C10 is based on Leapmotor’s LEAP3.0 technology architecture, featuring industry-leading intelligent electric technology, which benefits from an integrated centralized electronic and electrical architecture, CTC cell-to-chassis technology, and its iconic intelligent cockpit.
The Leapmotor C10 is a fully equipped D-segment vehicle focused on families that offers the best driving experience in its segment, with a WLTP range of 420 km and a 5-star E-NCAP rating. After winning the “2023 International CMF Design Award” for its technological design and extraordinary aesthetics, it recently received the “2024 Gold Award” from the French Design Awards (FDA). The Leapmotor T03 is a small five-door A-segment city car with B-segment interiors. It is not only stylish but also enjoyable to drive and offers a WLTP range of 265 km. It ranked first in the JD Power Initial Quality Study in the small electric vehicle segment.