Stellantis N.V. and Leapmotor announced that Stellantis plans to invest ca. €1.5 billion to acquire approximately 20% of Leapmotor, making Stellantis a significant shareholder. The deal also outlines the formation of Leapmotor International, a 51/49 Stellantis-led joint venture that has exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China, according to the companies.
This will be an industry-first global electric vehicle relationship between an automaker and a Chinese pure-play NEV OEM, Stellantis and Leapmotor said.
Leapmotor said it was the world’s first pure-play EV company to implement Cell-to-Chassis technology on a large scale, and its ‘Four-Leaf Clover’ Leap 3.0 central-controlled new electric and electronic architecture achieves seamless and efficient collaboration within the core components of smart EVs. Its unique vertical integration model maximizes scalability, enabling Leapmotor to quickly respond to customer needs.
The partnership aims to further boost Leapmotor’s sales in China, while leveraging Stellantis’ established global commercial presence to significantly accelerate Leapmotor brand sales in other regions, starting with Europe. Stellantis intends to leverage Leapmotor’s highly innovative, cost-efficient EV ecosystem in China to help meet core Dare Forward 2030 electrification targets, with the possibility to further explore mutually beneficial synergies, the company said
The two companies consider Leapmotor’s EV product offering to be complementary to Stellantis’ current technology and portfolio of iconic brands and will bring more affordable mobility solutions to global customers. Stellantis will have two seats on Leapmotor’s Board of Directors and will appoint the CEO of the Leapmotor International joint venture.
The joint venture expects to begin shipments in the second half of 2024.
For more information, visit www.stellantis.com and www.leapmotor.com.
