Stellantis Partners with Chinese EV Maker Leapmotor for European Expansion

Stellantis has embarked on a new chapter in its operations by forming a joint venture with Chinese electric vehicle manufacturer Leapmotor, marking its initial foray into the European market. Leapmotor International, primarily owned by Stellantis, is set to introduce its electric vehicles in nine European countries starting in September. The move is aimed at competing with affordable EV brands like BYD, with plans for rapid expansion and scaling up the business. The venture will kick off with the launch of the T03 and C10 models, followed by the introduction of at least one new model annually over the next three years.

The key components of the vehicles, including the electric powertrain and intelligent systems, are developed and manufactured independently. These components constitute 60% of the total vehicle cost and feature innovative technologies such as the Eight-in-One Electric Drive System and the industry's first mass-produced Cell-to-Chassis (CTC) technology. The vehicles also incorporate a centralized integrated architecture that integrates four zone controllers, ensuring optimal performance and efficiency.

The C10 model is built on Leapmotor's proprietary LEAP3.0 technology architecture, showcasing advanced features like the central integrated electronic and electrical architecture, CTC technology, and an intelligent cockpit. With a range of 420 km and a 5-star E-NCAP safety rating, the C10 is positioned as a premium offering. On the other hand, the T03 is a budget-friendly EV priced around €20,000, offering a range of 265 km to compete directly with models like the BYD Seagull.

Leapmotor, a rising star among Chinese EV startups, is determined to challenge established automakers such as BYD, Geely (owner of Volvos and Polestar), and NIO. Stellantis demonstrated its confidence in Leapmotor by acquiring a 21% equity stake in the company for $1.5 billion in October 2023, signaling a strategic partnership to drive innovation and growth in the EV market.

Stellantis CEO Carlos Tavares emphasized the significance of the collaboration with Leapmotor International in addressing global environmental challenges. He highlighted the introduction of cutting-edge battery electric vehicle (BEV) models that will compete with established Chinese brands in key markets worldwide. Tavares stressed the importance of maintaining quality and price competitiveness, especially in light of the escalating trade tensions between the US and China, where Stellantis operates popular brands like Dodge, Jeep, and Ram.

“The partnership between Leapmotor and Stellantis signifies a new era of efficiency in the global integration of China's intelligent electric vehicle industry,” remarked Jiangming Zhu, Founder, Chairman, and CEO of Leapmotor. Leveraging Leapmotor's advanced technology and products, combined with Stellantis' support in areas such as overseas distribution channels, services, and marketing, the collaboration aims to deliver exceptional driving experiences to users worldwide. The joint venture is poised to elevate Leapmotor's status as a leading intelligent electric vehicle manufacturer on the global stage.