Stellantis plans €1.5bn investment into China’s Leapmotor

The deal also sees the formation of Leapmotor International, a 51/49 Stellantis-led joint venture with rights for the export, sale, and manufacture of Leapmotor products outside Greater China.

The partnership aims to further boost Leapmotor’s sales in China, while using Stellantis’ global presence to accelerate Leapmotor brand sales in other regions, starting with Europe. Stellantis further intends to use Leapmotor’s EV ecosystem in China to help meet Stellantis’ core Dare Forward 2030 electrification targets.

Stellantis said it is investing over €50bn over the next decade in electrification to deliver on the targets of reaching a 100 per cent passenger car BEV sales in Europe and 50 per cent passenger car and light-duty truck BEV sales in the United States by 2030. To achieve these sales targets, the company is securing approximately 400GWh of battery capacity, including support from six battery manufacturing plants in North America and Europe.