Stellantis N.V. and Leapmotor have announced the completion of all necessary authorizations for the formation of Leapmotor International B.V., a joint venture led by Stellantis with a 51/49 partnership. Headquartered in Amsterdam, the management team, led by CEO Tianshu Xin, a former Stellantis China executive, is preparing for the successful launch of the T03 and C10 models. These will debut in European markets and subsequently expand to India, Asia Pacific (excluding Greater China), the Middle East, Africa, and South America starting in the fourth quarter of 2024.
In October 2023, Stellantis announced an investment of approximately €1.5 billion to acquire a 21% stake in Leapmotor, one of the top three Chinese EV startup brands of 2023. The deal included the creation of Leapmotor International, which will have exclusive rights to export, sell, and manufacture Leapmotor products outside of Greater China. This partnership aims to enhance Leapmotor’s sales in China, the world’s largest market, while utilizing Stellantis’ extensive global commercial network to significantly boost Leapmotor brand sales in other regions.
“The creation of Leapmotor International is a great step forward in helping address the urgent global warming issue with state-of-the-art BEV models that will compete with existing Chinese brands in key markets around the world,” said Stellantis CEO Carlos Tavares. “Leveraging our existing global presence, we will soon be able to offer our customers price competitive and tech-centric electric vehicles that will exceed their expectations. Under Tianshu Xin’s leadership, they have built a compelling worldwide commercial and industrial strategy to quickly ramp-up the sales distribution channels to support Leapmotor’s robust growth and create value for both partners.”
“The partnership between Leapmotor and Stellantis demonstrates a high level of efficiency, opening a new chapter in the global integration of China’s intelligent electric vehicle industry,” said Leapmotor Founder, Chairman and CEO Jiangming Zhu. “Leveraging Leapmotor’s cutting-edge technology and products, along with Stellantis’ support in areas such as overseas channels, services, and marketing, we hope that users around the world can experience the exceptional driving and riding experience brought by Leapmotor products. We believe that this cooperation can give Leapmotor a boost to become a respected world-class intelligent electric vehicle company.”
