Stellantis
Stellantis and Leapmotor announced international EV sales expansion
Stellantis N.V. and Leapmotor announced the formation of Leapmotor International B.V. a 51/49 Stellantis-led joint venture. This JV is headquartered in Amsterdam and led by CEO Tianshu Xin, a former Stellantis China executive.
These two companies are now laying the foundation of international electric vehicle (EV) sales including the two models -T03 and C10. In the fourth quarter of last year, Stellantis announced a 1.5 billion euro investment in Leapmotor and acquired around 21% equity in the automaker. This deal resulted in Leapmotor International.
This new formation could export, sell, and manufacture products outside China. The partnership aims to expand Leapmotor’s sales in China while expanding its global sales thanks to Stellantis’ expertise. Leapmotor International will use the Stellantis distribution network and its launch plan will begin in Europe including France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, and Romania.
#Leapmotor and @Stellantis today announced that the Leapmotor International joint venture now begins operations to expand global #electricvehicle sales, starting September 2024 in nine European countries, followed by other key growth regions. pic.twitter.com/vq8Lu1VEqn
— Leapmotor (@Leapmotorglobal) May 14, 2024
This European expansion will start in September and the company will have a dedicated manager in these markets along with 200 points of sales by the end of the year. These numbers will cross 500 by 2025 for a high level of customer service.
In late 2024, the Leapmotor product launch will reach the Middle East and Africa including Turkey, Israel, and the French Overseas. At the same time, the company will bring its products to Indian and Asia markets including Australia, New Zealand, Thailand, and Malaysia as well as Brazil and Chile from South America.
According to the lineup, Leapmotor International will debut two of its models into the global market including the C10 and T03. The C10 is Leapmotor’s first global product and it has self-developed LEAP3.0 technology architecture, featuring intelligent electric technology.
That includes cell-to-chassis (CTC) and intelligent cockpit. It uses a family-centric D-segment vehicle with premium ride and handling at 420 km WLTP range. The T03 model is a small five-door urban boutique commuter car with B-segment interior space. It offers a 265 km WLTP range.
(Source)
