Stellantis N.V. and Leapmotor have completed the formation of Leapmotor International B.V., a joint venture headquartered in Amsterdam. This new entity, led by CEO Tianshu Xin, a former Stellantis China executive, aims to introduce Leapmotor’s electric vehicles to various global markets, including India, starting in the fourth quarter of 2024.
In October 2023, Stellantis announced a €1.5 billion investment to acquire approximately 21% equity in Leapmotor, one of the top Chinese EV startups. This investment is part of a broader strategy to leverage Stellantis’ global commercial network to boost Leapmotor’s sales outside of China, while also enhancing Stellantis’ electric vehicle portfolio.
India is a key market in the expansion plan for Leapmotor International. With a strategic rollout set to begin in late 2024, the venture plans to introduce the Leapmotor C10 and T03 models to Indian consumers, aiming to tap into the growing demand for electric vehicles in the country. The C10 is a family-centric D-segment vehicle featuring a 420 km range and advanced safety and technology, while the T03 is a compact urban commuter car with a 265 km range.
Stellantis CEO Carlos Tavares emphasized the significance of this partnership in addressing global warming through the introduction of state-of-the-art battery electric vehicles (BEVs). Tavares highlighted the potential for these vehicles to compete effectively in key markets worldwide, including India, due to their competitive pricing and advanced technology.
Jiangming Zhu, Founder, Chairman, and CEO of Leapmotor, expressed confidence in the partnership’s ability to accelerate the global presence of Leapmotor’s innovative electric vehicles. He emphasized that the collaboration with Stellantis would enhance Leapmotor’s capabilities in overseas channels, services, and marketing, providing an exceptional driving experience for customers globally.
